Mortgage application activity declined for a second consecutive week as higher borrowing costs continued to weigh on both purchase and refinance demand. The Mortgage Bankers Association (MBA) reported a 2.9% decrease in total application volume on a seasonally adjusted basis for the week ending July 31. Purchase applications decreased 4% from the previous week on a seasonally adjusted basis and were 3% lower than the same week one year ago. Elevated mortgage rates continue to challenge affordability, dampening buyer demand despite improved housing inventory in some markets. Refinance activity also softened, with the Refinance Index falling 2% from the prior week and remaining 9% below year-ago levels. As rates moved higher, fewer homeowners had an incentive to refinance. "In the wake of the July FOMC meeting, longer-term rates increased, pushing the 30-year fixed mortgage rate to 6.81 percent, its highest level in more than a year,” said Mike Fratantoni, MBA’s SVP and Chief Economist. Next week's data will likely bounce back higher given that rates have dropped noticeably so far in August. Per MND's daily rate tracking, 30yr fixed rates hit 2 week lows on Wednesday and moved even lower on Friday. Mortgage Rate Summary: 30yr Fixed: 6.81% (from 6.76%) | Points: 0.65 (from 0.69) 15yr Fixed: 6.13% (from 6.15%) | Points: 0.73 (from 0.84) Jumbo 30yr: 6.72% (from 6.70%) | Points: 0.52 (unchanged) FHA: 6.43% (from 6.41%) | Points: 0.75 (from 0.88) 5/1 ARM: 6.03% (from 5.98%) | Points: 0.99 (from 1.23)

August 7, 2026 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.74% -0.03%   5.99% 6.85% 15 Yr. Fixed 6.25% -0.05%   5.55% 6.34% 30 Yr. Jumbo 6.85% -0.05%   6.1% 6.92% Compare Mortgage Rates from Local Lenders for Aug 7, 2026 Mortgage Rates End Week at Lows Fri, Aug 7, 2026 4:58PM Mortgage rates dropped moderately today after the latest jobs report showed much lower jobs created than expected. The monthly jobs report is one of the most--if not THE most--important pieces of economic data to the rate market on any given month. If the numbers are close to forecasts, there isn't always a big reaction. Today's numbers were quite far from forecasts for some parts of the report, but slightly offset by others. The net effect was a decent improvement in the underlying bond market. Because mortgage rates are based on bonds, rates dropped accordingly. The average top-tier 30yr ... (read more) Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.74% -0.03 0.00 15 Yr. Fixed 6.25% -0.05 0.00 30 Yr. FHA 6.28% -0.05 0.00 30 Yr. Jumbo 6.85% -0.05 0.00 7/6 SOFR ARM 6.29% -0.05 0.00 30 Yr. VA 6.30% -0.05 0.00 Updates Daily - Last Update: 8/7 Freddie Mac Rate Change Points 30 Yr. Fixed 6.69% +0.03 0.00 15 Yr. Fixed 6.01% -0.03 0.00 Updates Weekly - Last Update: 8/6 Mortgage Bankers Assoc. 30 Yr. Fixed 6.81% +0.05 0.65 15 Yr. Fixed 6.13% -0.02 0.73 30 Yr. Jumbo 6.72% +0.02 0.52 Updates Weekly - Last Update: 8/5 UMBS 30YR 5.5 99.55 +0.31   98.89 101.64 UMBS 30YR 6.0 101.55 +0.21   101.05 102.75 10 YR Treasury 4.647 -0.030   3.948 4.736 Much Stronger Start After Negative NFP Print, But... Fri, Aug 7, 2026 9:05AM Nonfarm payrolls (NFP) FELL 23k versus an 80k forecast.  Last month was revised down as well. From a traditional market-watching perspective, this is pure rally fuel. Indeed, bonds are rallying sharply so far. Let's hope it sticks. Why wouldn't it? As labor force dynamics have shifted, it doesn't take much job growth (or perhaps any?) to keep the unempl... (read more) MBS Price Change UMBS 5.0 97.16 +0.34 UMBS 5.5 99.55 +0.31 UMBS 6.0 101.55 +0.21 GNMA 5.0 97.37 +0.17 GNMA 5.5 99.75 +0.11 GNMA 6.0 101.86 +0.18 Pricing as of: 8/8 12:18AM EST US Treasury Yield Change 2 YR Treasury 4.197 -0.052 5 YR Treasury 4.351 -0.045 7 YR Treasury 4.493 -0.040 10 YR Treasury 4.647 -0.030 30 YR Treasury 5.201 -0.026 Pricing as of: 8/8 12:18AM EST Other News Another Modest Drop in Mortgage Apps, But Next Week Should Bounce Fri, Aug 7, 2026 3:22PM Mortgage application activity declined for a second consecutive week as higher borrowing costs continued to weigh on both purchase and refinance demand. The Mortgage Bankers Association (MBA) reported a 2.9% decrease in total application volume on a seasonally adjusted basis for the week ending July 31. Purchase applications decreased 4% from the previo... (read more) Cap Mkts Education, Mortgage Ops Support, QC, Flood Cert Tools; Weak Jobs Data Fri, Aug 7, 2026 11:52AM As many of us prepare to head to So Cal for the California MBA’s Western Secondary (800 or so registered), artificial intelligence continues to be the buzz. I recently received this question: “Rob, does it seem to you that we’re now at the same inflection point with AI as when everyone was afraid that DU & LP were going to replace all the underwriters?” ... (read more) Latest Video Experts react to the July jobs report Former Dallas Fed Pres. Fisher: Still seeing inflationary pressures that ar... June wholesale inventories rise 0.2%, missing expectations ISM non-manufacturing PMI comes in at 54.1 in July, missing expectations Around the Web CNBC Falling long-term unemployment isn't good news, economists say what it means for jobseekers CNBC U.S. economy unexpectedly lost 23,000 jobs in July CNBC K-shaped economy shows up in housing: Luxury sales rise as starter-home buyers struggle NY Fed Short-Term Inflation Expectations Tick Down; Household Finance Expectations Improve Investing Live Fed's Barkin: We are in a zero-to-modest gain jobs environment Revelio Labs The US economy adds 79k jobs in July Reuters Proposed Hormuz passage deal not feasible for shipping industry, sources say CNBC Homeowners are paying much more for insurance and keeping coverage is getting harder CNBC Oil prices jump after Iran publishes restrictive draft plan for Strait of Hormuz CNBC Gas prices could remain high this fall even if crude prices stabilize. Here's why CNBC Treasury yields hold steady ahead of key nonfarm payrolls, jobless data NY Fed US NY Fed GDP Nowcast Q3: 2.24% (prev 2.52%) Eye on Housing Multifamily Developer Confidence Weakens in Second Quarter

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