Weekly application volume on the mortgage

Last week, mortgage rates rose to the highest level in four weeks, but the demand for mortgage was not really moving. The total application for a mortgage increased by 0.8% last week compared to the previous week, reports the seasonally adjusted index of the mortgage bankers.

The average percentage rate for a 30-year-old fixed mortgage rate with the loan residues, $ 806,500 and less increased to 6.84% with 6.82%, and points remain unchanged by 0.62, including a fee for origin, for loans with 20% initial payment.

Applications for the refinancing of the housing loan, which are most sensitive to weekly steps, decreased by 3% a week and were 22% higher than the same week ago when the interest rates were only 2 basic points below. Although the annual leap may seem great, it is only because the volume is very small.

Applications for a home mortgage increased by 3% a week, as well as 22% higher than the same week ago.

“After reaching $ 460,000 in March 2025, the amount of the purchase loan decreased to the lowest level from January 2025 to $ 426,700,” said Joel Cana, MBA economist. “With a 30-year fixed rate, it is still too high to benefit many borrowers, and refinancing applications decreased by almost three percent per week.”

According to a separate poll from the mortgage news, the mortgage rates went just below to start. The markets responded positively on Tuesday morning to detail the Treasury Thoughts Scott Holnt on whether the chairman of the federal reserve system Jerome Powell will leave the post. Last week, Bond gives that it could be concerned.

“Not many words, the infant ordered Trump not to shoot Powell, but today the morning (Tuesday) just expanded these sentiments,” wrote Matthew Graham, Chief Operational Director for Mortgage News. “The news of the infant helped the bond market start the day in a stronger territory.”