U.S. House Purchase Mortgage Applications Highest In Over 2 Years: MBA

(RTTNews) - Home loan applications in the U.S. rose to their highest level since early 2023 in the week ended July 04, while mortgage rates eased only modestly, survey data from the Mortgage Bankers Association showed on Wednesday.

The number of mortgage applications grew 9.4 percent from the previous week when it they rose 2.7 percent. The latest weekly results were adjusted for the July 4th holiday.

The refinance Index increased 9 percent from the previous week. The 30-year fixed mortgage rate decreased just 0.2 percentage points to 6.77 percent, which was the lowest in three months.

"After adjusting for the July 4th holiday, purchase applications increased to the highest level of activity since February 2023 and remained above year-ago levels," Joel Kan, MBA's vice president and deputy chief economist, said.

"Homebuyer demand is being fueled by increasing housing inventory and moderating home-price growth."

The average loan size on a purchase application was $432,600, which was the lowest since January 2025.