US Mortgage Rates Fall Further: MBA

2026-01-14 12:30 By Joana Taborda 1 min. read

The average contract interest rate for 30-year fixed-rate mortgages on conforming loans of $806,500 or less in the US fell to 6.18% in the week ending January 9, marking a new low since September 2024, according to the Mortgage Bankers Association.

It represents the fourth consecutive weekly drop, reflecting typical post-holiday volatility and also driven by President Trump's order for Fannie Mae and Freddie Mac to purchase $200 billion in mortgage-backed securities in an effort to push mortgage rates lower.

As a result, mortgage demand surged 28.5%, with refinancing applications jumping 40.1% and applications to purchase a home rising 15.9%.“Rates started to come down a little just before that, and part of it might be a bounce back from the holidays, even though we did adjust for the holiday in the results the week before.

It’s always a noisy time.

This was a real move based upon the rate drop.

Spreads had been moving in even before the announcement”, said Joel Kan, an MBA economist.



News Stream
US Mortgage Rates Fall Last Week: MBA
The average 30-year fixed mortgage rate for loans of up to $806,500 in the US edged down 4bps to 6.77% in the week ended August 7, 2026, from 6.81% in the previous week, which marked the highest level in a year, according to the Mortgage Bankers Association. The decline tracked lower Treasury yields after a weaker-than-expected jobs report reduced expectations for an imminent Fed rate hike. Mortgage applications increased 3.6%, marking the first rise in three weeks, with applications to purchase a home up 2.5% and those to refinance a home loan rising 5%.
2026-08-12
US Mortgage Rates Reach Fresh 2025-High: MBA
The average 30-year fixed mortgage rate for loans of up to $806,500 in the US increased by 5bps to 6.81% in the week ended July 31st 2026, reaching the highest level in a year, after soaring by 7bps in the previous week, according to the Mortgage Bankers Association. The rise tracked higher Treasury yields, while renewed hostilities in the Middle East pushed oil prices higher, raising inflation concerns. Meanwhile, mortgage applications decreased 2.9%, extending a 6.4% drop in the previous week. Applications to purchase a home slumped 3.6% and those to refinance a home loan dropped 1.9%, after decreases of 3.6% and 9.9% respectively in the previous week.
2026-08-05
US 30-Year Mortgage Rate Climbs to One-Year High
The average contract rate for a 30-year fixed mortgage in the US climbed 7 basis points to 6.76% in the week ending July 24, 2026, marking its highest level since August 2025, according to the Mortgage Bankers Association. The increase tracked a rise in Treasury yields as persistent inflation concerns continued to pressure bond markets, reducing expectations for lower borrowing costs in the near term. Mortgage rates have climbed nearly 70 basis points since the US and Israel launched strikes against Iran in late February, as higher oil prices fueled inflation fears. While energy prices eased in June, renewed hostilities have revived expectations that the Federal Reserve will keep interest rates higher for longer. Higher borrowing costs continued to weigh on housing demand. Total mortgage applications fell 6.4% from the previous week, with purchase applications declining 3.6% and refinancing activity dropping 9.9%.
2026-07-29