Mortgage applications posted a modest increase last week, even as rates ticked slightly higher. According to MBA’s Weekly Applications Survey for the week ending November 7, total volume rose 0.6% on a seasonally adjusted basis and dipped 1% unadjusted. The Refinance Index fell 3% from the previous week but remains 147% higher than the same week one year ago. Despite the pullback, refi activity is still running at levels far stronger than anything seen in 2023 or 2024. Larger-balance borrowers continue to drive the category, though rising rates led to the smallest average refinance loan size in more than a month. Viewed in context, refi demand is still well into post-2020 recovery territory, even if weekly swings look choppy. “Purchase applications picked up almost 6 percent over the week to the strongest pace since September, despite mortgage rates increasing slightly, with the 30-year fixed rate rising to 6.34 percent,” said Joel Kan, MBA’s Vice President and Deputy Chief Economist. “Purchase applications for conventional, FHA, and VA loans increased, as potential homebuyers continue to shop around, particularly in markets where inventory has increased and sales price growth has slowed. Based on the unadjusted purchase index for the week, this was the strongest start to November since 2022.” He added that higher rates cooled refi demand, particularly among conventional and VA borrowers. Purchase activity rose 6% on a seasonally adjusted basis and 3% unadjusted, climbing 31% above the same week a year ago. After the slower stretch in late summer and early fall, purchase volume is finally showing signs of seasonal resilience.

November 14, 2025 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.38% +0.04%   6.13% 7.26% 15 Yr. Fixed 5.86% +0.03%   5.6% 6.59% 30 Yr. Jumbo 6.43% +0.01%   6.1% 7.45% Compare Mortgage Rates from Local Lenders for Nov 14, 2025 Rates Rise on Friday, Now Near 2-Month Highs Fri, Nov 14, 2025 4:10PM Mortgage rates were only modestly higher on Friday, but because of the narrow prevailing range and previous increases this week, that brings us right in line with 2-month highs. Bonds (which dictate rates) began the day with promise. There was heavy buying (good for rates) in the 7am hour. This coincided with stocks challenging their lowest levels in weeks.  But both stocks and bonds bounced back in the 9am hour. Bonds ultimately erased all of the morning's gains and, thus, the hope for today's mortgage rates to be lower than yesterday's.  (read more) Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.38% +0.04 0.00 15 Yr. Fixed 5.86% +0.03 0.00 30 Yr. FHA 6.02% -0.01 0.00 30 Yr. Jumbo 6.43% +0.01 0.00 7/6 SOFR ARM 6.05% -0.02 0.00 30 Yr. VA 6.04% -0.01 0.00 Updates Daily - Last Update: 11/14 Freddie Mac Rate Change Points 30 Yr. Fixed 6.24% +0.02 0.00 15 Yr. Fixed 5.49% -0.01 0.00 Updates Weekly - Last Update: 11/13 Mortgage Bankers Assoc. 30 Yr. Fixed 6.34% +0.03 0.62 15 Yr. Fixed 5.70% +0.05 0.64 30 Yr. Jumbo 6.46% +0.03 0.38 Updates Weekly - Last Update: 11/12 UMBS 30YR 5.0 99.16 0.00   95.05 100.11 UMBS 30YR 5.5 100.78 0.00   97.47 101.40 10 YR Treasury 4.143 -0.007   3.932 4.780 Stronger Start After 7am Magical Mystery Move Fri, Nov 14, 2025 9:24AM Bonds were sideways to slightly weaker in the overnight session.  4am to 7am was exceptionally flat and narrow. This is notable because stocks had done more than half of their overnight selling by 7am, and stocks are one of the only scapegoats. In other words, a "flight to safety" (sell stocks/buy bonds) seems to be the only popular explanation, and it'... (read more) MBS Price Change UMBS 4.5 97.10 0.00 UMBS 5.0 99.16 0.00 UMBS 5.5 100.78 0.00 GNMA 4.5 97.16 0.00 GNMA 5.0 99.52 0.00 GNMA 5.5 100.69 0.00 Pricing as of: 11/15 5:10AM EST US Treasury Yield Change 2 YR Treasury 3.604 -0.004 5 YR Treasury 3.729 +0.000 7 YR Treasury 3.919 0.000 10 YR Treasury 4.143 -0.007 30 YR Treasury 4.748 -0.002 Pricing as of: 11/15 5:10AM EST Other News Purchase Demand Near Best Levels Since January 2023 Fri, Nov 14, 2025 1:59PM Mortgage applications posted a modest increase last week, even as rates ticked slightly higher. According to MBA’s Weekly Applications Survey for the week ending November 7, total volume rose 0.6% on a seasonally adjusted basis and dipped 1% unadjusted. The Refinance Index fell 3% from the previous week but remains 147% higher than the same week one year ag... (read more) HELOC, Meeting Software, MSR Valuation Tools; M&A for Servicing; Extension Cost Primer; Freddie and Fannie Price Fixing? Fri, Nov 14, 2025 11:47AM I always wonder, when I see two gas stations near each other in a small town, if the owners agree on pricing and share information. But when you’re dealing with trillions of dollars of mortgages and millions of borrowers, well, that’s a different scale, and the leader and boards of directors should be held responsible if the news is correct. Per the AP, “A c... (read more) Latest Video It's a big premium for homeowners to move right now, says Invitation Homes ... Fed's Schmid: Inflation is too high, economy shows momentum Alternative jobless claims data show little change, some improvement 30-year auction comes in soft Around the Web Calculated Risk Blog MBA: Mortgage Delinquencies Increased in Q3 2025 CNBC New foreclosures jump 20% in October, a sign of more distress in the housing market Eye on Housing Credit Conditions for Builders Continue to Be Tight CNBC D.R. Horton is tapping a startups AI zoning tool to build more homes Calculated Risk Blog Realtor.com Reports Median Listing Price Down Year-over-year CNBC IRS unveils 2026 IRA contribution limits, raises savings cap CNBC Markets no longer view the December rate cut as a sure bet, with Fed officials casting doubts Reuters Fed's Hammack says restrictive monetary policy needed to cool inflation CNBC Treasury yields little changed as investors weigh the state of the U.S. economy Calculated Risk Blog Q3 GDP Tracking: Missing Data! CNBC Government shutdown back pay headed to federal workers in coming days Investing.com Minneapolis Fed’s Kashkari opposed October rate cut, undecided on December Calculated Risk Blog Hotels: Occupancy Rate Increased 2.5% Year-over-year

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