US Mortgage Applications Edge Lower

Mortgage applications in the US fell by 1.6% from the previous week on the period ending April 24th, trimming the 7.9% jump from the earlier period, according to data compiled by the Mortgage Bankers Association. The slight pullback was aligned with a 2bps increase in the benchmark mortgage rate that is also compiled by the MBA, tracking the increase in long-term Treasury yields as upside inflation risks from higher energy costs limited the room for rate cuts by the Federal Reserve. Applications for a contract to refinance a mortgage, which are more sensitive to short-term changes in rates, fell by 4.4%. In turn, applications for a mortgage to purchase a new home, inched higher by 1.1%.

Mortgage applications in the US jumped 7.8% from the previous week on the period ending April 17th, extending the 1.8% increase from the earlier period, according to data compiled by the Mortgage Bankers Association. The increase was aligned with a 7bps reduction in benchmark mortgage rates during the period, tracking the pullback in long-term Treasury yields as markets gauged risks to domestic inflation in a backdrop of higher energy prices. Applications for contracts to refinance a mortgage, which are more sensitive to short-term interest rate changes, jumped by 5.8%. In turn, applications for a mortgage to purchase a home, surged 10% following multiple weeks of deferral purchases.

Mortgage applications in the US increased 1.8% in the week ended April 10th 2026, the first rise in five weeks, following a 0.8% drop in the previous period, data from the Mortgage Bankers Association showed. Refinancing applications which are most sensitive to weekly interest rate moves, jumped 5.1% while those to purchase a home fell 1%. “Purchase activity remained subdued as potential homebuyers remained hesitant given the current economic uncertainty, which kept purchase applications below last year’s level for the second consecutive week,” Joel Kan, an MBA economist said. Meanwhile, the average US 30-year fixed mortgage rate for conforming loans of $806,500 or less fell for a 2nd consecutive week to 6.42% in the week ending April 10, 2026, reaching the lowest value in about a month.