“The mortgage interest rate fell last week, in which the 30-year fixed rate fell to the lowest level since April to 6.64%. However, that was not enough to generate more application activities,” said Joel Kan, vice-president and substitute champion of MBA.
The refinancing index rose by 1% compared to the last week and was 20% higher than the same week a year ago. The refinancing share of the mortgage activity rose to 46.9% of the total applications of 45.3% the last week.
The seasonal purchasing index fell by 3% of a week earlier. The non -adapted purchase index fell by 6% compared to the last week and was 17% higher than the same week a year ago.
Can continue: “Refinancing applications saw a small increase compared to the previous week, driven by Fha And Va Refinance applications, but conventional refinancing fell. The FHA speed is on average approximately 30 basic points lower than the conventional rate in 2025, making those loans relatively more attractive for eligible borrowers. Purchase activity was withdrawn, after a series of four weeks increases, because a slower house coupling activity led to falling applications in the various loan types. “
Every product, apart from the USDA The share of the applications, which remained unchanged from last week at 0.5%, saw an increase in activity. The share of the adjustable speed of the activity (poor) of the activity increased to 8.8% of the total applications, the FHA share of the total applications rose to 19.9% ​​of 19.1% the week before, and the VA share of the total applications rose to 13.3% of 13.3% the week before.
The average contract interest for 30-year-old mortgages with fixed interest rates with conforming loans ($ 806,500 or less) fell to 6.64% of 6.69%. The average contract interest for 30-year mortgages with a fixed interest rate with Jumbo loan stalances also fell, reducing it to 6.58% of 6.67%.
The average contract interest for 30-year-old by the FHA with fixed rates with a fixed interest rate fell to 6.31% of 6.35% and the average contract interest for 15-year-old mortgages with a fixed interest rate fell to 5.84% of 6.03%.
The average contract interest for 5/1 weapons fell to 5.90% compared to 5.94% last week.
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