Mortgage Applications Decreased 1.6 Percent From One Week Earlier

Mortgage applications decreased 1.6 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending April 24, 2026.

The Market Composite Index, a measure of mortgage loan application volume, decreased 1.6 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 1 percent compared with the previous week. The Refinance Index decreased 4 percent from the previous week and was 51 percent higher than the same week one year ago. The seasonally adjusted Purchase Index increased 1 percent from one week earlier. The unadjusted Purchase Index increased 2 percent compared with the previous week and was 21 percent higher than the same week one year ago.

“Mortgage rates increased slightly last week, with the 30-year fixed rate rising to 6.37 percent. The increase in rates led to a 4 percent decline in refinance application volume. However, purchase activity for conventional loans picked up almost 2 percent for the week,” said Mike Fratantoni, MBA’s SVP and Chief Economist. “More notably, purchase application activity was more than 20 percent above last year’s pace. After a brief pause, in part because of the elevated geopolitical uncertainties, potential homebuyers certainly appear to be moving forward this spring and taking advantage of the more favorable inventory conditions in most parts of the country.”

The refinance share of mortgage activity decreased to 42.5 percent of total applications from 44.2 percent the previous week. The adjustable-rate mortgage (ARM) share of activity increased to 8.3 percent of total applications.

The FHA share of total applications decreased to 17.2 percent from 18.2 percent the week prior. The VA share of total applications remained unchanged at 15.0 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) increased to 6.37 percent from 6.35 percent, with points remaining unchanged at 0.61 (including the origination fee) for 80 percent loan-to-value ratio (LTV) loans. The effective rate increased from last week.

The average contract interest rate for 30-year fixed-rate mortgages with jumbo loan balances (greater than $832,750) increased to 6.45 percent from 6.43 percent, with points decreasing to 0.38 from 0.45 (including the origination fee) for 80 percent LTV loans. The effective rate remained unchanged from last week.

The average contract interest rate for 30-year fixed-rate mortgages backed by the FHA decreased to 6.09 percent from 6.10 percent, with points remaining unchanged at 0.71 (including the origination fee) for 80 percent LTV loans. The effective rate decreased from last week.

The average contract interest rate for 15-year fixed-rate mortgages increased to 5.77 percent from 5.75 percent, with points decreasing to 0.63 from 0.69 (including the origination fee) for 80 percent LTV loans. The effective rate remained unchanged from last week.

The average contract interest rate for 5/1 ARMs increased to 5.66 percent from 5.48 percent, with points increasing to 0.96 from 0.89 (including the origination fee) for 80 percent LTV loans. The effective rate increased from last week.