Rising Rates Hit Mortgage Apps, But Pace Remains Better Than 2024

Mortgage application activity dropped sharply last week as rates moved higher, according to the Mortgage Bankers Association’s (MBA) latest survey. The Composite Index fell 10.0% on a seasonally adjusted basis for the week ending July 11, reversing much of the prior week’s gain. “Mortgage rates rose last week following higher Treasury yields, which weighed on both purchase and refinance demand,” said Joel Kan, MBA’s Vice President and Deputy Chief Economist. “Refinance activity declined, and purchase applications fell to their lowest level since May.” Refinance applications fell 7% from the previous week but remain roughly 25% higher than the same week one year ago. Purchase applications declined 12% on a seasonally adjusted basis. The unadjusted index increased 11% week-over-week and is still about 13% higher than 2024 levels, reflecting a modest improvement in year-over-year comparisons despite recent volatility. The average 30-year fixed rate rose to 6.82%—up slightly from the prior week—while points held steady or edged lower depending on loan type. Mortgage Rate Summary: Loan Type Rate Change Points Change 30yr Fixed 6.82% +0.03 0.62 0.00 15yr Fixed 6.11% +0.05 0.66 −0.01 Jumbo 30yr 6.81% +0.03 0.39 −0.01 FHA 6.55% +0.02 0.74 −0.02 5/1 ARM 6.01% +0.02 0.58 −0.02

July 18, 2025 Download our Mobile App: Download our Mobile App: Housing News Rising Rates Hit Mortgage Apps, But Pace Remains Better Than 2024 Mortgage application activity dropped sharply last week as rates moved higher, according to the Mortgage Bankers Association’s (MBA) latest survey. The Composite Index fell 10.0% on a seasonally adjusted basis for the week ending July 11, reversing m... (read more) Housing News Builder Outlook Ticks Up Despite More Price Cuts and Less Buyer Traffic Builders are placing their better days in the future according to the National Association of Homebuilders (NAHB) and Wells Fargo's latest Housing Market Index (HMI). Buoyed by longer-run expectations, the headline builder confidence index rose one p... (read more) Mortgage Rate Watch Mortgage Rates Barely Budge Today and This Week While any rate watcher's bingo card should always have a few squares devoted to "unchanged, flat, etc.," this week's had at least as many squares reserved for a big reaction to inflation data. Specifically, Tuesday's inflation data had the powe... (read more) MBS Commentary Slow Green Friday At the end of a week with a few big ticket economic reports and unexpected headline-induced volatility, who wouldn't like a break? Friday's calendar offers respite with only Consumer Sentiment and residential construction numbers. Neither... (read more) Rob Chrisman Broker, Warehouse, Valuation Tools; loanDepot's LO Comp Lawsuit; MBA's MAA Campaign With all of this talk about replacing people in our biz, could this be a future mortgage banker’s conference? Delta is moving toward eliminating set prices in favor of AI that determines how much you personally will pay for an airline ticket. I recei... (read more) Mortgage Rates 30 Yr. Fixed Rate 6.81% -0.01% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.81% -0.01 0.00 15 Yr. Fixed 6.04% -0.03 0.00 30 Yr. FHA 6.39% -0.01 0.00 30 Yr. Jumbo 6.92% 0.00 0.00 7/6 SOFR ARM 6.27% -0.04 0.00 30 Yr. VA 6.40% -0.02 0.00 Updates Daily - Last Update: 7/18 15 Yr. Fixed Rate 6.04% -0.03% Rate Change Points Freddie Mac 30 Yr. Fixed 6.75% +0.03 0.00 15 Yr. Fixed 5.92% +0.06 0.00 Updates Weekly - Last Update: 7/17 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 6.82% +0.05 0.62 15 Yr. Fixed 6.11% +0.07 0.66 30 Yr. Jumbo 6.81% +0.12 0.39 Updates Weekly - Last Update: 7/16 MBS / Treasuries UMBS 30YR 5.5 99.24 +0.11 Price / Yield Change MBS UMBS 5.5 99.24 +0.11 UMBS 6.0 101.20 +0.08 GNMA 5.5 99.51 +0.22 GNMA 6.0 101.20 +0.23 Pricing as of: 7/18 5:31PM EST 10 Year US Treasury 4.4185 -0.0348 Price / Yield Change US Treasury 2 YR Treasury 3.871 -0.033 5 YR Treasury 3.949 -0.041 7 YR Treasury 4.170 -0.040 10 YR Treasury 4.419 -0.035 30 YR Treasury 4.991 -0.017 Pricing as of: 7/18 5:31PM EST Latest Video Housing affordability is the number one issue in America right now: Former ... VantageScore CEO on credit scoring and impact on mortgage lending Consumer sentiment comes in at 61.8 Business inventories unchanged for second consecutive month Around the Web Market Watch Americans are less anxious about trade wars and inflation. Yet they dont have much confidence in the economy. Calculated Risk Blog Lawler: Early Read on Existing Home Sales in June Calculated Risk Housing Starts Increased to 1.321 million Annual Rate in June Calculated Risk Blog 3rd Look at Local Housing Markets in June Marketwatch Jobless claims drop for fifth straight week to lowest level since April CNBC Treasury yields inch lower as investors await more economic data Calculated Risk Blog Hotels: Occupancy Rate Decreased 3.2% Year-over-year Eye on Housing Builder Confidence Edges Up in July Yahoo Retail sales rise more than expected in June Calculated Risk Blog LA Ports: Traffic Down 3% YoY in June MSN Import prices rise 0.1%, export prices rise 0.5% in June Calculated Risk Blog Fed's Beige Book: "Economic activity increased slightly" CNBC European stocks set to open higher as markets weigh tariffs and Trump comments

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