US Mortgage Rates Fall for Third Week

The average 30-year fixed mortgage rate in the US for loans up to $806,500 dropped to 6.35% for the week ending April 17, 2026, down from 6.42% the previous week, according to the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey. This marks the third consecutive weekly decline, reflecting a drop in Treasury yields amid growing hopes for a diplomatic resolution to the ongoing conflict. As rates fell, mortgage applications surged 7.9%, the sharpest increase since late February, with refinancing applications up 5.8% and home purchase applications rising 10.1%.

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, compared to 6.51% in the previous period, data from the Mortgage Bankers Association showed. “Given the evolving situation in the Middle East and its impact on energy and commodity prices, mortgage rates declined last week,” Joel Kan, an MBA economist said. Mortgage rates typically follow Treasury yields, which fell last week as prospects for diplomatic talks raised hopes of a potential end to the war. As a result, mortgage applications increased 1.8%, the first rise in five weeks, with refinancing applications jumping 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 added.

The average US 30-year fixed mortgage rate for conforming loans of $806,500 or less fell to 6.51% for the week ending April 3, 2026, down from a seven-month high of 6.57% the prior week, the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey showed on Wednesday. This marks the first decline in over a month, driven by a 10+bps drop in Treasury yields as investors grew wary of the Middle East conflict’s economic impact. The war has rattled global markets, fueling stagflation fears and reducing expectations that the Fed will raise rates this year to curb energy-driven inflation. Despite the rate dip, mortgage activity weakened: total applications fell 0.8%, the fourth consecutive weekly decline, including prior drops exceeding 10%. Refinancing activity led the drop, down 2.8%, while purchase applications inched up 1.1%.