US Mortgage Applications Rise in the Week Ending June 26

According to the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending Friday, June 26, the Market Composite Index—a measure of mortgage loan application volume—increased 0.04% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 11%.

The Refinance Index decreased 1% from the previous week but was 9% higher than the same week one year ago.

The seasonally adjusted Purchase Index increased 1% from one week earlier. On an unadjusted basis, the Purchase Index increased 11% compared with the prior week and was 3% 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 eased slightly last week as oil prices declined. As a result, mortgage applications increased modestly, with an uptick in purchase activity offsetting a smaller decline in refinances. Purchase applications remain ahead of 2025’s pace and have exhibited year-over-year growth for almost three months, as prospective homebuyers are finding opportunities in markets with ample inventory and easing home-price growth. ARM loans accounted for less than 8% of applications, the lowest share since January, as the yield curve continues to flatten with relatively higher short-term rates.”