US Mortgage Rates Continue to Fall: MBA

2025-09-17 11:06 By Joana Taborda 1 min. read

The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($806,500 or less) in the US fell sharply to 6.39% in the week ending September 12th 2025, a fresh low since October 2024, from 6.49% in the previous period, according to the Mortgage Bankers Association.

Mortgage rates were down for a third consecutive week, tracking lower Treasury yields as investors get increasingly convinced the Fed will resume rate cuts in September.

As a result, mortgage applications jumped 29.7% and applications to refinance a home loan soared 58%.

Meanwhile, the average contract interest rate for 30-year fixed-rate mortgages with jumbo loan balances (greater than $806,500) increased to 6.48% from 6.44%.

The average contract interest rate for 30-year fixed-rate mortgages backed by the FHA decreased to 6.14% from 6.27%.



News Stream
US Mortgage Rates Highest Since August: MBA
The average US 30-year fixed mortgage rate for conforming loans of $806,500 or less increased for a fourth consecutive week to 6.57% for the week ending March 27th, 2026, reaching its highest level since the last week of August, compared to 6.43% in the previous week. Mortgage rates climbed as Treasury yields rose, driven by geopolitical tensions from the ongoing war with Iran that pushed oil prices to their highest levels since 2022. The surge in energy costs has stoked inflation expectations, reinforcing the case for higher borrowing costs. Meanwhile, mortgage applications tumbled 10.4%, following a 10.5% drop in the previous week, with applications to refinance a home loan, which are most sensitive to weekly interest rate move, tumbling 17.3% and those to purchase a home falling 2.5%. “The shocks of the jump in rates and the increase in overall economic uncertainty are likely having an impact on buyer confidence,” Mike Fratantoni, MBA’s chief economist, said.
2026-04-01
US Mortgage Rates Hit 5-Month High
The average US 30-year fixed mortgage rate for conforming loans of $806,500 or less climbed to 6.43% for the week ending March 20, 2026, its highest level since early October and the third straight weekly increase. As mortgage rates closely follow Treasury yields, fears of an oil price shock have driven the 10-year note higher, lifting borrowing costs and deepening affordability challenges for homebuyers. The surge in rates has severely dampened mortgage activity, with total applications plummeting 10.5%, following a 10.9% drop the previous week. Refinancing activity led the decline, collapsing 14.6%, while purchase applications fell 5.4%, signaling a broad slowdown in housing demand.
2026-03-25
US 30-Year Mortgage Rates Rise to 6.30%
The average contract rate on 30-year fixed-rate mortgages for conforming loans of $806,500 or less in the US increased to 6.30% in the week ending March 13, 2026, up from 6.19% the previous week, according to the Mortgage Bankers Association. This marks the highest level since late December, putting pressure on mortgage activity. Total mortgage applications plunged 10.9%, reversing a 3.2% gain from the prior period, with refinancing activity dropping sharply by 18.5%. Meanwhile, applications for home purchases edged up slightly by 0.9%.
2026-03-18