{"id":1327,"date":"2025-07-21T12:32:52","date_gmt":"2025-07-21T12:32:52","guid":{"rendered":"https:\/\/finzexpert.com\/blog\/rising-rates-hit-mortgage-apps-but-pace-remains-better-than-2024\/"},"modified":"2025-07-21T12:32:52","modified_gmt":"2025-07-21T12:32:52","slug":"rising-rates-hit-mortgage-apps-but-pace-remains-better-than-2024","status":"publish","type":"post","link":"https:\/\/finzexpert.com\/blog\/rising-rates-hit-mortgage-apps-but-pace-remains-better-than-2024\/","title":{"rendered":"Rising Rates Hit Mortgage Apps, But Pace Remains Better Than 2024"},"content":{"rendered":"\n
\n

Mortgage application activity dropped sharply last week as rates moved higher, according to the Mortgage Bankers Association\u2019s (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\u2019s gain.<\/p>\n

\u201cMortgage rates rose last week following higher Treasury yields, which weighed on both purchase and refinance demand,\u201d said Joel Kan, MBA\u2019s Vice President and Deputy Chief Economist. \u201cRefinance activity declined, and purchase applications fell to their lowest level since May.\u201d<\/p>\n

Refinance applications fell 7% from the previous week but remain roughly 25% higher than the same week one year ago.<\/p>\n

<\/p>\n

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.<\/p>\n

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

The average 30-year fixed rate rose to 6.82%\u2014up slightly from the prior week\u2014while points held steady or edged lower depending on loan type.<\/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

6.82%<\/td>\n

<\/p>\n

+0.03<\/td>\n

<\/p>\n

0.62<\/td>\n

<\/p>\n

0.00<\/td>\n


\n<\/tr>\n

<\/p>\n

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

<\/p>\n

6.11%<\/td>\n

<\/p>\n

+0.05<\/td>\n

<\/p>\n

0.66<\/td>\n

<\/p>\n

\u22120.01<\/td>\n


\n<\/tr>\n

<\/p>\n

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

<\/p>\n

6.81%<\/td>\n

<\/p>\n

+0.03<\/td>\n

<\/p>\n

0.39<\/td>\n

<\/p>\n

\u22120.01<\/td>\n


\n<\/tr>\n

<\/p>\n

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

<\/p>\n

6.55%<\/td>\n

<\/p>\n

+0.02<\/td>\n

<\/p>\n

0.74<\/td>\n

<\/p>\n

\u22120.02<\/td>\n


\n<\/tr>\n

<\/p>\n

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

<\/p>\n

6.01%<\/td>\n

<\/p>\n

+0.02<\/td>\n

<\/p>\n

0.58<\/td>\n

<\/p>\n

\u22120.02<\/td>\n


\n<\/tr>\n


\n<\/tbody>\n


\n<\/table>\n

Refinance share of applications decreased to 40.0%, down slightly from 40.1% the week prior. ARM share ticked down to 7.6%. FHA share declined to 18.0%, VA share held steady at 12.0%, and USDA share remained unchanged at 0.5%.<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

Mortgage application activity dropped sharply last week as rates moved higher, according to the Mortgage Bankers Association\u2019s (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\u2019s gain. \u201cMortgage rates rose last week following higher Treasury yields, which weighed on […]<\/p>\n","protected":false},"author":1,"featured_media":1328,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[1125,1058,153,906,154,875,946],"class_list":["post-1327","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-loan","tag-apps","tag-hit","tag-mortgage","tag-pace","tag-rates","tag-remains","tag-rising"],"_links":{"self":[{"href":"https:\/\/finzexpert.com\/blog\/wp-json\/wp\/v2\/posts\/1327","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=1327"}],"version-history":[{"count":0,"href":"https:\/\/finzexpert.com\/blog\/wp-json\/wp\/v2\/posts\/1327\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/finzexpert.com\/blog\/wp-json\/wp\/v2\/media\/1328"}],"wp:attachment":[{"href":"https:\/\/finzexpert.com\/blog\/wp-json\/wp\/v2\/media?parent=1327"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/finzexpert.com\/blog\/wp-json\/wp\/v2\/categories?post=1327"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/finzexpert.com\/blog\/wp-json\/wp\/v2\/tags?post=1327"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}