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Mortgage applications fall 6% as 30-year rate hits 7.3%

Refinance activity dropped 9% week over week and was 56% lower than a year earlier, according to the MBA survey.

Reported · Written up by our desk · Mortgages

HousingWire reports that mortgage applications fell 6% for the week ending Sept. 25, 2026 as the 30-year fixed rate rose to 7.3%, the highest level since November 2023.

The Mortgage Bankers Association data showed refinance applications declined 9% week over week, while purchases fell 4% on a seasonally adjusted basis.

On an unadjusted basis, the purchase index decreased 5% from the prior week and was 14% lower than the same week one year ago.

HousingWire also cited the MBA's vice president and deputy chief economist Joel Kan, saying borrowers moved to the sidelines as mortgage rates jumped for the sixth straight week.

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