Home mortgage applications increased 1.0 percent on a seasonally changed basis in the week ended June 19, 2026, according to the Home loan Bankers Association’s Weekly Home mortgage Applications Study. The gain was driven by a pickup in refinancing, while purchase activity edged lower in the middle of largely steady loaning costs following the Federal Reserve’s June policy conference.
The MBA’s Market Composite Index rose 1.0 percent from the previous week on a seasonally changed basis. On an unadjusted basis, the index fell 10 percent, with the results incorporating an adjustment for the Juneteenth vacation. Overall application volume stayed 8 percent above year-ago levels.
Re-finance applications increased 3 percent week-over-week and were 17 percent greater than the very same week last year. The refinance share of total applications climbed to 41.5 percent from 40.3 percent the previous week.
The seasonally changed Purchase Index declined 1 percent from one week earlier. Unadjusted purchase applications fell 12 percent compared with the previous week however were still 3 percent above year-ago levels.
Mike Fratantoni”Home mortgage rates altered bit throughout recently, regardless of the more hawkish tone from the FOMC at its June conference,” stated Mike Fratantoni, MBA senior vice president and chief economist. “Purchase application volume edged somewhat lower, while refinance activity published modest gains. Despite the raised mortgage rates and overall economic uncertainty, home loan application volume is running 8 percent above year-ago levels.”
Interest rates were mostly stable to somewhat lower throughout crucial product classifications:
- 30-year fixed-rate adhering loans (balances of $832,750 or less): The average contract rate fell to 6.59 percent from 6.60 percent, with points unchanged at 0.63 for 80 percent loan-to-value loans. The effective rate was unchanged.
- 30-year jumbo loans (balances above $832,750): The contract rate decreased to 6.52 percent from 6.62 percent, with points increasing to 0.58 from 0.57. The efficient rate reduced.
- FHA-backed 30-year fixed-rate loans: The agreement rate held at 6.25 percent, while points increased to 0.76 from 0.73. The effective rate increased.
- 15-year fixed-rate loans: The agreement rate remained at 6.02 percent, with points increasing to 0.69 from 0.65. The reliable rate increased.
- 5/1 variable-rate mortgages: The agreement rate was up to 5.68 percent from 5.86 percent, with points unchanged at 0.81. The efficient rate reduced.
The adjustable-rate mortgage share of overall applications reduced to 8.2 percent. Government-backed loan shares shifted modestly: FHA applications rose to 17.9 percent from 17.5 percent, VA applications decreased to 12.3 percent from 12.9 percent, and USDA applications increased to 0.5 percent from 0.4 percent.