US Mortgage Applications Increase in the Week Ending January 9

According to the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending Friday, January 9, the Market Composite Index—a measure of mortgage loan application volume—increased 28.5% on a seasonally adjusted basis from one week earlier.

On an unadjusted basis, the Index rose 65.0%. The prior week’s results included an adjustment for the New Year’s Day holiday.

The Refinance Index increased 40.0% from the previous week and was 128.0% higher than the same week one year ago.

The seasonally adjusted Purchase Index rose 16.0% from one week earlier. On an unadjusted basis, the Purchase Index increased 51.0% compared with the prior week and was 13.0% higher than the same week one year ago.

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

“Mortgage rates dropped lower last week following the announcement of increased MBS purchases by the GSEs. Lower rates, including the 30-year fixed rate declining to 6.18%, sparked an increase in refinance applications. Compared to a holiday-adjusted week, refinance applications surged 40% to the strongest weekly pace since October 2025. The average loan size for refinance applications was also higher, as borrowers with larger loan sizes are typically more sensitive to changes in rates.

Purchase applications also jumped last week and were 13% ahead of last year’s pace, as lower rates and higher inventory kept potential homebuyers active in the market.”