Mortgage Purposes Lower in Newest Weekly Survey

by Calculated Threat on 7/30/2025 07:00:00 AM

From the MBA: Mortgage Purposes Lower in Newest MBA Weekly Survey

Mortgage purposes decreased 3.8 % from one
week earlier, in line with knowledge from the Mortgage Bankers Affiliation’s (MBA) Weekly Mortgage
Purposes Survey for the week ending July 25, 2025.

The Market Composite Index, a measure of mortgage mortgage software quantity, decreased 3.8 % on
a seasonally adjusted foundation from one week earlier. On an unadjusted foundation, the Index decreased 4
% in contrast with the earlier week. The Refinance Index decreased 1 % from the earlier
week and was 30 % greater than the identical week one 12 months in the past. The seasonally adjusted Buy
Index decreased 6 % from one week earlier. The unadjusted Buy Index decreased 6 %
in contrast with the earlier week and was 17 % greater than the identical week one 12 months in the past.

“Mortgage purposes fell to their lowest degree since Could, with each buy and refinance exercise
declining over the week. There may be nonetheless loads of uncertainty surrounding the financial system and job market,
which is weighing on potential homebuyers’ selections,” stated Joel Kan, MBA’s Vice President and
Deputy Chief Economist. “The 30-year fastened charge was little modified at 6.83 %, however excessive sufficient that
there was not a lot curiosity in refinancing, pushing the refinance index decrease for the third straight week.
Buy purposes decreased by virtually 6 %, as purposes for standard, FHA, and VA
buy loans fell, regardless of slowing home-price development and rising ranges of for-sale stock in lots of
areas.”
…
The common contract rate of interest for 30-year fixed-rate mortgages with conforming mortgage balances
($806,500 or much less) decreased to six.83 % from 6.84 %, with factors lowering to 0.60 from 0.62
(together with the origination payment) for 80 % loan-to-value ratio (LTV) loans.
emphasis added

Click on on graph for bigger picture.

The primary graph exhibits the MBA mortgage buy index.

Based on the MBA, buy exercise is up 17% year-over-year unadjusted. 

Crimson is a four-week common (blue is weekly).