{"id":1295,"date":"2025-07-05T08:24:09","date_gmt":"2025-07-05T08:24:09","guid":{"rendered":"https:\/\/finzexpert.com\/blog\/refis-pick-up-steam-as-rate-relief-returns\/"},"modified":"2025-07-05T08:24:09","modified_gmt":"2025-07-05T08:24:09","slug":"refis-pick-up-steam-as-rate-relief-returns","status":"publish","type":"post","link":"https:\/\/finzexpert.com\/blog\/refis-pick-up-steam-as-rate-relief-returns\/","title":{"rendered":"Refis Pick Up Steam as Rate Relief Returns"},"content":{"rendered":"\n
\n

Mortgage application activity moved higher last week as rates declined to the lowest levels since April, according to the Mortgage Bankers Association\u2019s (MBA) latest survey. The Composite Index rose 2.7% on a seasonally adjusted basis for the week ending June 27. Results were not adjusted for holidays this time around, but the previous week had included a Juneteenth adjustment.<\/p>\n

\u201cMortgage rates were lower across all loan types last week, with the 30-year fixed rate declining to its lowest level since April at 6.79 percent,\u201d said Joel Kan, MBA\u2019s Vice President and Deputy Chief Economist. \u201cThis decline prompted an increase in refinance applications, driven by a 10 percent increase in conventional applications and a 22 percent increase in VA refinance applications.\u201d<\/p>\n

Refinance applications rose 7% from the prior week and are now 40% higher than the same week last year.<\/p>\n

<\/p>\n

Purchase applications were flat, rising just 0.1% on a seasonally adjusted basis. However, the unadjusted index rose 10% week-over-week and remains 16% higher than 2024 levels, continuing a trend of modest year-over-year gains despite short-term stagnation.<\/p>\n

\"\"\/<\/p>\n

The average 30-year fixed rate declined to 6.79%\u2014the lowest since April\u2014while points moved slightly lower across most loan types.<\/p>\n

Mortgage Rate Summary:<\/strong><\/p>\n <\/p>\n <\/p>\n <\/p>\n <\/p>\n <\/p>\n <\/p>\n <\/p>\n <\/p>\n <\/p>\n
Loan Type<\/th>\n

<\/p>\n

Rate<\/th>\n

<\/p>\n

Change<\/th>\n

<\/p>\n

Points<\/th>\n

<\/p>\n

Change<\/th>\n


\n<\/tr>\n

\n<\/thead>\n

<\/p>\n

30yr Fixed<\/strong><\/td>\n

<\/p>\n

6.79%<\/td>\n

<\/p>\n

\u22120.09<\/td>\n

<\/p>\n

0.62<\/td>\n

<\/p>\n

\u22120.01<\/td>\n


\n<\/tr>\n

<\/p>\n

15yr Fixed<\/strong><\/td>\n

<\/p>\n

6.06%<\/td>\n

<\/p>\n

\u22120.05<\/td>\n

<\/p>\n

0.67<\/td>\n

<\/p>\n

\u22120.07<\/td>\n


\n<\/tr>\n

<\/p>\n

Jumbo 30yr<\/strong><\/td>\n

<\/p>\n

6.78%<\/td>\n

<\/p>\n

\u22120.10<\/td>\n

<\/p>\n

0.40<\/td>\n

<\/p>\n

\u22120.20<\/td>\n


\n<\/tr>\n

<\/p>\n

FHA<\/strong><\/td>\n

<\/p>\n

6.53%<\/td>\n

<\/p>\n

\u22120.06<\/td>\n

<\/p>\n

0.76<\/td>\n

<\/p>\n

\u22120.09<\/td>\n


\n<\/tr>\n

<\/p>\n

5\/1 ARM<\/strong><\/td>\n

<\/p>\n

5.99%<\/td>\n

<\/p>\n

\u22120.17<\/td>\n

<\/p>\n

0.60<\/td>\n

<\/p>\n

+0.06<\/td>\n


\n<\/tr>\n


\n<\/tbody>\n


\n<\/table>\n

Falling rates helped push the refinance share of applications to 40.1%, up from 38.4% the previous week. ARM share rose to 7.8%. FHA share fell to 18.2%, while VA share increased to 12.0%. USDA share held steady at 0.5%.<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

Mortgage application activity moved higher last week as rates declined to the lowest levels since April, according to the Mortgage Bankers Association\u2019s (MBA) latest survey. The Composite Index rose 2.7% on a seasonally adjusted basis for the week ending June 27. Results were not adjusted for holidays this time around, but the previous week had […]<\/p>\n","protected":false},"author":1,"featured_media":1296,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[274,721,1010,1083,804,1082],"class_list":["post-1295","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-loan","tag-pick","tag-rate","tag-refis","tag-relief","tag-returns","tag-steam"],"_links":{"self":[{"href":"https:\/\/finzexpert.com\/blog\/wp-json\/wp\/v2\/posts\/1295","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/finzexpert.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/finzexpert.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/finzexpert.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/finzexpert.com\/blog\/wp-json\/wp\/v2\/comments?post=1295"}],"version-history":[{"count":0,"href":"https:\/\/finzexpert.com\/blog\/wp-json\/wp\/v2\/posts\/1295\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/finzexpert.com\/blog\/wp-json\/wp\/v2\/media\/1296"}],"wp:attachment":[{"href":"https:\/\/finzexpert.com\/blog\/wp-json\/wp\/v2\/media?parent=1295"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/finzexpert.com\/blog\/wp-json\/wp\/v2\/categories?post=1295"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/finzexpert.com\/blog\/wp-json\/wp\/v2\/tags?post=1295"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}