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Mortgage applications rise 3.6% as 30-year rates slip to 6.77%
The MBA said refinance applications gained 5% and their share rose to 40.7% of total activity, even as refinance incentives have “dwindled” at current rate levels.
Mortgage applications rose for the week ending Aug. 7, 2026, increasing 3.6% week over week, according to data from the Mortgage Bankers Association, as the 30-year fixed mortgage rate edged down to 6.77%. HousingWire reports that the refinance index increased 5% and the purchase index rose 3% in the same period.
The refinance share of total applications climbed to 40.7% from 39.9% the prior week. HousingWire also reported that refinance applications were still 22% lower than the same week one year earlier.
The report attributed the weekly improvement to a modest decline in mortgage rates after a dip in oil prices tied to hopes for progress on the war in Iran. HousingWire said the 30-year fixed rate fell four basis points but remained close to its highest level in a year.
HousingWire added that adjustable-rate mortgage activity was unchanged at 7.9% of total applications, while FHA’s share held at 17.3% and VA’s share stayed at 12.3%. Jumbo 30-year fixed rates fell to 6.68% and FHA-backed 30-year fixed rates were unchanged at 6.43%, the report said.