Mortgage Applications Increase in Latest MBA Weekly Survey

WASHINGTON, D.C. (July 22, 2026) — Mortgage applications increased 1.9 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending July 17, 2026. 

The Market Composite Index, a measure of mortgage loan application volume, increased 1.9 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 2 percent compared with the previous week.  The Refinance Index decreased 2 percent from the previous week and was 7 percent higher than the same week one year ago. The seasonally adjusted Purchase Index increased 6 percent from one week earlier. The unadjusted Purchase Index increased 6 percent compared with the previous week and was 0.2 percent higher than the same week one year ago.

“Mortgage rates reached another high point last week, with the 30-year conforming rate now at 6.69 percent, its highest level since last August,” said Mike Fratantoni, MBA’s SVP and Chief Economist. “However, purchase volume increased modestly for the week. Growing home inventory in many markets is supporting more purchase activity. Incoming data showed that inflation dropped in June, but with oil prices spiking again, that improvement seems unlikely to continue in July data, and mortgage rates are likely to remain higher as a result.”

The refinance share of mortgage activity decreased to 41.2 percent of total applications from 43.2 percent the previous week. The adjustable-rate mortgage (ARM) share of activity increased to 7.7 percent of total applications.

The FHA share of total applications decreased to 17.0 percent from 17.7 percent the week prior. The VA share of total applications decreased to 13.2 percent from 13.6 percent 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 6.69 percent from 6.65 percent, with points decreasing to 0.62 from 0.67 (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) decreased to 6.44 percent from 6.62 percent, with points decreasing to 0.45 from 0.54 (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 increased to 6.34 percent from 6.33 percent, with points decreasing to 0.74 from 0.81 (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 decreased to 6.04 percent from 6.05 percent, with points decreasing to 0.87 from 0.88 (including the origination fee) for 80 percent LTV loans. The effective rate decreased from last week.

The average contract interest rate for 5/1 ARMs increased to 5.97 percent from 5.75 percent, with points increasing to 1.11 from 0.93 (including the origination fee) for 80 percent LTV loans. The effective rate increased from last week. 

If you would like to purchase a subscription of MBA’s Weekly Applications Survey, please visit www.mba.org/WeeklyApps, contact [email protected] or click here.

The survey covers U.S. closed-end residential mortgage applications originated through retail and consumer direct channels. The survey has been conducted weekly since 1990. Respondents include mortgage bankers, commercial banks, thrifts, and credit unions. Base period and value for all indexes is March 16, 1990=100.