Mortgage demand and interest rates remain stuck at low levels
On 08 August 2025, Las Vegas, Nevada, a housing development of the air view.
Justin Sullivan | Getty Images
During the second week in a row, the demand for mortgage barely moved, since interest rates were stuck in the mud.
According to the seasonal -free index of Mortgage Banning Association, the total mortgage application volume fell 0.5% last week.
The average contract interest rate for 30-year fixed mortgages with appropriate credit balances increased from $ 806,500 or less, from 6.68% to 6.69% and points did not change at 0.60, including 80% credit-value ratio or LTV for loans.
Applications for re -financeing a home loan fell 4% during the week and one year ago was 19% higher than the same week. The refinance share of Mortgage activity fell to 45.3% of total applications from 46.1% in the previous week.
Applications to buy a house for a mortgage increased by 2% during the week and was 25% higher than the same week a year ago. Although this small earnings are taken into consideration, it has not said much, but it has become the strongest week for the purchase request within a month. The average purchasing loan size rose to $ 433,400. This reflects higher housing prices.
“Potential buyers look less sensitive to these levels, and in many parts of the country, more inventory and cooling home price growth are supported by the MBA economist Joel Kan, MBA economist Joel Kan. He said.
Despite the news that President Donald Trump fired Federal Reserve Governor Lisa Cook, mortgage rates did not start this week. This means that Cook’s successor will support a more aggressive deduction in interest rates, if any.
