Key facts
- Total mortgage applications rose 0.04% week-over-week for the week ending June 26, 2026.
- Purchase mortgage applications increased 1% week-over-week.
- Refinance mortgage applications decreased 1% week-over-week.
- The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances fell to 6.57% from 6.59%.
- The share of adjustable-rate mortgages (ARMs) decreased to 7.6% of total applications.
Mortgage applications saw a modest increase of 0.04% for the week ending June 26, 2026, according to the Mortgage Bankers Association (MBA). This rise was primarily driven by a 1% increase in purchase applications, which offset a 1% decline in refinance applications. The average interest rate for 30-year fixed-rate mortgages with conforming loan balances decreased slightly to 6.57% from 6.59%.
Joel Kan, MBA's vice president and deputy chief economist, noted that purchase applications continue to outpace last year's pace, benefiting from markets with ample inventory and easing home-price growth. The share of adjustable-rate mortgages (ARMs) fell to its lowest point since January, accounting for less than 8% of applications, as the yield curve flattens. The Federal Housing Administration (FHA) share of applications decreased to 16.9%, while the U.S. Department of Veterans Affairs (VA) share increased to 12.9%.
Separately, Xactus' Mortgage Intent Index, which tracks credit-pull activity, rose 3.53% week-over-week, recovering from the Juneteenth holiday. This index was also 10.4% higher than the Memorial Day week, indicating a normalization of borrower activity. However, on a year-over-year basis, the Xactus index was 5.6% lower than the same week in 2025.