Mortgage Applications Increased 3.6 Percent From One Week Earlier

Mortgage applications increased 3.6 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending August 7, 2026.

The Market Composite Index, a measure of mortgage loan application volume, increased 3.6 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 3 percent compared with the previous week. The Refinance Index increased 5 percent from the previous week and was 22 percent lower than the same week one year ago. The seasonally adjusted Purchase Index increased 3 percent from one week earlier. The unadjusted Purchase Index increased 2 percent compared with the previous week and was 1 percent lower than the same week one year ago.

“After five consecutive weeks of increases, mortgage rates declined slightly last week as oil prices dipped briefly on the hopes of a sustained resolution to the war in Iran. The 30-year fixed rate decreased four basis points but remained close to its highest level in a year at 6.77 percent,” said Joel Kan, CMB, MBA’s Vice President and Deputy Chief Economist. “The reprieve in rates supported an increase in both purchase and refinance applications over the week, although the pace of applications has fallen below last year’s pace in recent weeks. As refinance incentives have dwindled with rates at current levels, the average loan size for refinance applications was down to its lowest level since July 2025.”

The refinance share of mortgage activity increased to 40.7 percent of total applications from 39.9 percent the previous week. The adjustable-rate mortgage (ARM) share of activity remained unchanged at 7.9 percent of total applications.

The FHA share of total applications remained unchanged at 17.3 percent from the week prior. The VA share of total applications remained unchanged at 12.3 percent from the week prior. The USDA share of total applications remained unchanged at 0.5 percent from the week prior.

The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($832,750 or less) decreased to 6.77 percent from 6.81 percent, with points increasing to 0.67 from 0.65 (including the origination fee) for 80 percent loan-to-value ratio (LTV) loans. The effective rate decreased from last week.

The average contract interest rate for 30-year fixed-rate mortgages with jumbo loan balances (greater than $832,750) decreased to 6.68 percent from 6.72 percent, with points decreasing to 0.51 from 0.52 (including the origination fee) for 80 percent LTV loans. The effective rate decreased from last week.

The average contract interest rate for 30-year fixed-rate mortgages backed by the FHA remained unchanged at 6.43 percent, with points increasing to 0.77 from 0.75 (including the origination fee) for 80 percent LTV loans.  The effective rate remained unchanged from last week.

The average contract interest rate for 15-year fixed-rate mortgages decreased to 6.10 percent from 6.13 percent, with points increasing to 0.94 from 0.73 (including the origination fee) for 80 percent LTV loans. The effective rate increased from last week.

The average contract interest rate for 5/1 ARMs decreased to 5.99 percent from 6.03 percent, with points decreasing to 0.83 from 0.99 (including the origination fee) for 80 percent LTV loans. The effective rate decreased from last week.