"The refinance index decreased 16% from the previous week and was 156% higher than the same week one year ago. The refinance share of mortgage activity decreased to 56.2% of total applications from 61.9 percent the previous week. The seasonally adjusted purchase index decreased 0.4% from one week earlier. The unadjusted purchase index decreased 4% compared with the previous week and was 18% higher than the same week one year ago."
"Mortgage rates increased for the first time in a month, and as expected, refinance applications fell by 16%. The 30-year fixed rate was the highest in three weeks at 6.24%, said MBA's Joel Kan, vice president and deputy chief economist. FHA refinance activity bucked the overall trend and increased, as FHA rates remained almost 20 basis points lower than conforming rates."
Refinance applications declined 16% week-over-week while the refinance index remained 156% higher than the same week a year earlier. The refinance share of mortgage activity dropped to 56.2% from 61.9%. Seasonally adjusted purchase activity edged down 0.4% and the unadjusted purchase index fell 4% week-over-week but was 18% higher than last year. Mortgage rates rose for the first time in a month, with the 30-year conforming rate at 6.24%. FHA refinance activity increased as FHA rates stayed about 20 basis points below conforming rates. Purchase applications were 18% higher year-over-year and average loan sizes hit their highest level since September 2025. ARM share rose to 7.6%, FHA share increased to 18.6%, VA share fell to 14.7%, and USDA share rose to 0.5%. Conforming 30-year rates rose to 6.24% from 6.16%, jumbo rates decreased to 6.34% from 6.39%, and FHA-backed 30-year rates inched up to 6.06%.
Read at www.housingwire.com
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