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Mortgage applications rise 1.9% even as 30-year rate hits 6.69%

The 30-year conforming rate rose to 6.69%, and purchase activity increased 6% week over week while refinances fell 2%.

Reported · Written up by our desk · Mortgages

Mortgage applications rose 1.9% for the week ending July 17, 2026, even as borrowing costs stayed elevated, according to the Mortgage Bankers Association data cited by HousingWire.

The MBA said purchase activity increased 6% week over week, while refinances declined 2%. The 30-year conforming rate climbed to 6.69%, its highest level since the prior August, and MBA chief economist Mike Fratantoni said growing home inventory in many markets is supporting some purchase volume despite the rate pressure.

The refinance share of total applications fell to 41.2% from 43.2% the week before, while the ARM share rose to 7.7% from the prior week. FHA’s share decreased to 17.0% from 17.7%, the VA share slipped to 13.2% from 13.65, and the USDA share held at 0.5%.

HousingWire also noted that the average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($832,750 or less) increased to 6.69% from 6.65%, while the average rate for 30-year jumbo loans decreased to 6.44% from 6.62%. Rates for FHA-backed 30-year fixed loans rose to 6.34% from 6.33%, and the average rate for 5/1 ARMs increased to 5.97% from 5.75%.

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