US Mortgage Applications Fall in the Week Ending July 10

According to the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending Friday, July 10, the Market Composite Index—a measure of mortgage loan application volume—decreased 2.7% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 8%.

MBA noted that the prior week’s results included an adjustment for the July 4 holiday.

The Refinance Index increased 4% from the previous week and was 7% higher than the same week one year ago.

The seasonally adjusted Purchase Index decreased 7% from one week earlier. On an unadjusted basis, the Purchase Index increased 3% compared with the prior week but was 2% lower than the same week one year ago.

In remarks accompanying the release, MBA Vice President and Deputy Chief Economist Joel Kan said:

“Mortgage applications declined as the 30-year fixed rate increased to 6.65%, the highest level since August 2025. Purchase applications were down over the week and dipped below last year’s pace in the week following the July 4th holiday. Despite higher mortgage rates, refinance applications increased, led by FHA and VA refinance applications rising 9% and 10%, respectively.”