Mortgage Applications Decrease in Latest MBA Weekly Survey

WASHINGTON, D.C. (April 8, 2026) - Mortgage applications decreased 0.8 percent from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending April 3, 2026.

The Market Composite Index, a measure of mortgage loan application volume, decreased 0.8 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 1 percent compared with the previous week. The Refinance Index decreased 3 percent from the previous week and was 4 percent lower than the same week one year ago. The seasonally adjusted Purchase Index increased 1 percent from one week earlier. The unadjusted Purchase Index increased 1 percent compared with the previous week and was 7 percent lower than the same week one year ago.

"Higher mortgage rates and continued economic uncertainty weighed down on mortgage applications again last week. While mortgage rates saw a slight reprieve, with the 30-year fixed rate decreasing to 6.51 percent, many potential refinance borrowers have been frozen out by the sharp increase over the past month. The pace of refinance applications was at its lowest level since December 2025," said Joel Kan, MBA's Vice President and Deputy Chief Economist. "Overall purchase activity has also been adversely impacted by current conditions - purchase applications were 7 percent lower on a year-over-year basis, the first annual decline since January 2025. However, certain loan types and geographic segments are faring better than others because of lower rates on ARM and FHA loans as well as growing housing inventory in some local markets. Applications for FHA purchase applications were up 5 percent over the week, supported by the FHA mortgage rate being about 30 basis points lower than the conventional mortgage rate."

The refinance share of mortgage activity decreased to 44.3 percent of total applications from 45.3 percent the previous week. The adjustable-rate mortgage (ARM) share of activity increased to 8.6 percent of total applications.

The FHA share of total applications decreased to 19.3 percent from 19.5 percent the week prior. The VA share of total applications remained unchanged at 16.1 percent from the week prior. The USDA share of total applications remained unchanged at 0.5 percent from the week prior.

The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($832,750 or less) decreased to 6.51 percent from 6.57 percent, with points decreasing to 0.61 from 0.65 (including the origination fee) for 80 percent loan-to-value ratio (LTV) loans. The effective rate decreased from last week.

The average contract interest rate for 30-year fixed-rate mortgages with jumbo loan balances (greater than $832,750) decreased to 6.54 percent from 6.59 percent, with points decreasing to 0.35 from 0.43 (including the origination fee) for 80 percent LTV loans. The effective rate decreased from last week.

The average contract interest rate for 30-year fixed-rate mortgages backed by the FHA decreased to 6.22 percent from 6.25 percent, with points decreasing to 0.73 from 0.81 (including the origination fee) for 80 percent LTV loans. The effective rate decreased from last week.

The average contract interest rate for 15-year fixed-rate mortgages increased to 5.90 percent from 5.89 percent, with points decreasing to 0.74 from 0.75 (including the origination fee) for 80 percent LTV loans. The effective rate increased from last week.

The average contract interest rate for 5/1 ARMs decreased to 5.60 percent from 5.67 percent, with points increasing to 0.68 from 0.56 (including the origination fee) for 80 percent LTV loans. The effective rate decreased from last week.

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The survey covers U.S. closed-end residential mortgage applications originated through retail and consumer direct channels. The survey has been conducted weekly since 1990. Respondents include mortgage bankers, commercial banks, thrifts, and credit unions. Base period and value for all indexes is March 16, 1990=100.