Key facts
- Mortgage applications rose 3.4% in the week ending Oct. 23, 2026.
- The 30-year fixed mortgage rate fell to 7.37%, the lowest in three weeks.
- Purchase applications increased 4% week-over-week but were 18% lower than a year ago.
- Refinance applications were down over 60% from a year ago.
- The share of adjustable-rate mortgages increased to 11.3%.
Mortgage applications saw a rebound of 3.4% in the week ending October 23, 2026, driven by a decrease in mortgage rates to 7.37%. This marks the lowest rate in three weeks and provided some relief to borrowers, leading to a slight increase in applications, particularly for conventional loans. The refinance index rose 3% week-over-week, though it remains 61% lower than the same week last year. Purchase applications also increased by 4% from the previous week, but were still down 18% year-over-year as many potential buyers have postponed their plans. The share of adjustable-rate mortgages (ARMs) increased to 11.3%, the highest in over a year, as borrowers sought lower monthly payments. Xactus's Mortgage Intent Index also increased by approximately 2.8% week-over-week, though it remains over 20% below last year's levels.