Home loan applications published a modest increase recently, though overall activity remained subdued by historic requirements as loaning expenses held fairly steady. The Mortgage Bankers Association (MBA) reported a 1.0% boost in total application volume on a seasonally changed basis for the week ending June 19.
Re-finance activity offered the majority of the support for the weekly gain. The Refinance Index increased 3% from the previous week and was 17% higher than the very same period one year back.
Purchase need slipped somewhat however continued to hold above year-ago levels. The seasonally adjusted Purchase Index decreased 1% from the prior week, while staying 3% greater than the very same week in 2025.
“Home loan rates altered little bit over the course of last week, despite the more hawkish tone from the FOMC at its June conference,” said Mike Fratantoni, MBA’s SVP and primary economist. “Purchase application volume edged somewhat lower, while refinance activity posted modest gains. In spite of the raised home loan rates and general financial uncertainty, mortgage application volume is running 8 percent above year-ago levels.”
Refinance share of home mortgage activity increased to 41.5% from 40.3%, while the ARM share declined to 8.2% from 8.5%.
Government-backed application shares were mixed. FHA share increased to 17.9% from 17.5%, while VA share reduced to 12.3% from 12.9%. USDA share increased to 0.5% from 0.4%.
Home Loan Rate Summary:
- 30yr Fixed: 6.59% (from 6.60%)|Points: 0.63 (unchanged)
- 15yr Repaired: 6.02% (the same)|Points: 0.69 (from 0.65)
- Jumbo 30yr: 6.52% (from 6.62%)|Points: 0.58 (from 0.57)
- FHA: 6.25% (the same)|Points: 0.76 (from 0.73)
- 5/1 ARM: 5.68% (from 5.86%)|Points: 0.81 (the same)