US Mortgage Applications Fall Again: MBA

2026-11-04 12:14 By Agna Gabriel 1 min. read

US mortgage applications fell 1.2% in the week ended October 30, after a 3.4% rise in the previous period, despite a modest easing in borrowing costs.

The average rate on 30-year fixed mortgages with conforming loan balances decreased to 7.3% from 7.37%, reaching its lowest level since September 2026 following the Federal Reserve’s decision to leave interest rates unchanged in October.

However, lower rates failed to stimulate demand, with home purchase applications dropping 2% from the previous week.

Refinancing activity was broadly stable, rising just 0.1%.

Meanwhile, borrowers continued to turn to adjustable-rate mortgages (ARMs) to secure lower initial payments.

The average rate on a 5/1 ARM declined to 6.29% from 6.41%, while the share of applications involving these loans reached its highest level since September 2025.



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US Mortgage Applications Fall Again: MBA
US mortgage applications fell 1.2% in the week ended October 30, after a 3.4% rise in the previous period, despite a modest easing in borrowing costs. The average rate on 30-year fixed mortgages with conforming loan balances decreased to 7.3% from 7.37%, reaching its lowest level since September 2026 following the Federal Reserve’s decision to leave interest rates unchanged in October. However, lower rates failed to stimulate demand, with home purchase applications dropping 2% from the previous week. Refinancing activity was broadly stable, rising just 0.1%. Meanwhile, borrowers continued to turn to adjustable-rate mortgages (ARMs) to secure lower initial payments. The average rate on a 5/1 ARM declined to 6.29% from 6.41%, while the share of applications involving these loans reached its highest level since September 2025.
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