Mortgage applications rose last week, driven by refinancing
By: Jarrod Barry | Published: 2025-07-02 16:53:00 | Source: www.nationalmortgagenews.com
Homeowners who were locked into high interest rates have been eager for them to dip so they can refinance. Last week, many saw their chance and took it.
Mortgage applications rose 2.7% for the week ending June 27, according to the Mortgage Bankers Association’s Weekly Applications Survey, driven mostly by refinancing. Refinance applications were up 7% week-over-week and 40% from the same point last year. In contrast, purchase applications were essentially unchanged, moving up just 0.1% on a seasonally adjusted basis, though purchases were still up 16% from a year ago.
“Mortgage rates were lower across all loan types last week, with the 30-year fixed rate declining to its lowest level since April at 6.79 percent,” said Joel Kan, MBA’s vice president and deputy chief economist, in a…
