The Mortgage Bankers Association’s (MBA) latest survey showed a pullback in mortgage applications, with rates dipping slightly after a three-week climb. The week’s numbers were also affected by the Memorial Day holiday, contributing to larger unadjusted declines. Still, the broader trend remains intact, with purchase demand continuing to outperform last year despite short-term rate volatility. “Most mortgage rates moved lower last week, with the 30-year fixed rate declining to 6.92 percent and staying in the 6.8 to 7 percent range since April,” said Joel Kan, MBA’s Vice President and Deputy Chief Economist. He noted that purchase applications remain 18 percent higher than the same week last year, driven in part by a modest rise in FHA activity. Meanwhile, refinance activity fell again, and the average refi loan size dropped to the lowest level since July 2024, suggesting borrowers are still holding out for better rates. Seasonally adjusted refinance applications fell 4 percent from the previous week, while purchase apps also declined 4 percent. On an unadjusted basis, both categories dropped by 15 percent, though the year-over-year numbers remain solid: purchases are up 18 percent and refis are up 42 percent versus this time in 2024. Mortgage Rate Summary:

June 6, 2025 Download our Mobile App: Download our Mobile App: Housing News Application Demand Ebbs For Both Purchases and Refis The Mortgage Bankers Association’s (MBA) latest survey showed a pullback in mortgage applications, with rates dipping slightly after a three-week climb. The week’s numbers were also affected by the Memorial Day holiday, contributing to larger unadjus... (read more) Mortgage Rate Watch Mortgage Rates Jump Back Toward 7% After Jobs Report Mortgage rates have enjoyed a nice run since May 21st, with the MND Index (average top tier 30yr fixed scenarios) falling from a recent peak of 7.08% to this week's low of 6.87%. As recently as yesterday afternoon, rates were still much closer to tho... (read more) MBS Commentary Jobs Report Not Bad Enough to Justify The Lead-Off The bond market was likely taking a bit of a lead-off ahead of today's jobs report, inspired by a string of weaker economic data over the past week.  Wednesday's ADP and ISM data had an especially notable impact, prompting us to note the asymmet... (read more) Rob Chrisman Correspondent, Warehouse, HELOC, Broker, Coaching Products; Training and Events; Fresh Jobs Data Today is the 81st anniversary of D-Day. “My granddad was responsible for 25 downed German planes in WW II. To this day, he is still known as the worst mechanic the Luftwaffe ever had.” On the anniversary of D-Day, let’s hope the entire world is not i... (read more) Mortgage Rates 30 Yr. Fixed Rate 6.97% +0.08% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.97% +0.08 0.00 15 Yr. Fixed 6.22% +0.08 0.00 30 Yr. FHA 6.47% +0.09 0.00 30 Yr. Jumbo 7.02% +0.07 0.00 7/6 SOFR ARM 6.40% +0.16 0.00 30 Yr. VA 6.50% +0.10 0.00 Updates Daily - Last Update: 6/6 15 Yr. Fixed Rate 6.22% +0.08% Rate Change Points Freddie Mac 30 Yr. Fixed 6.85% -0.04 0.00 15 Yr. Fixed 5.99% -0.04 0.00 Updates Weekly - Last Update: 6/5 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 6.92% -0.06 0.66 15 Yr. Fixed 6.25% +0.02 0.67 30 Yr. Jumbo 6.92% -0.01 0.60 Updates Weekly - Last Update: 6/4 MBS / Treasuries UMBS 30YR 5.5 98.57 -0.01 Price / Yield Change MBS UMBS 5.5 98.57 -0.01 UMBS 6.0 100.70 +0.01 GNMA 5.5 98.89 -0.01 GNMA 6.0 100.74 -0.01 Pricing as of: 6/8 4:42PM EST 10 Year US Treasury 4.5076 +0.0000 Price / Yield Change US Treasury 2 YR Treasury 4.037 0.000 5 YR Treasury 4.123 0.000 7 YR Treasury 4.313 0.000 10 YR Treasury 4.508 0.000 30 YR Treasury 4.963 0.000 Pricing as of: 6/8 4:42PM EST Latest Video Former Fed Vice Chair Richard Clarida: The Fed is looking at inflation and ... U.S. payrolls increased 139,000 in May, more than expected; unemployment at... Former St. Louis Fed Pres. Bullard: Expect the Fed to be on hold until Sept... Incoming Fed Vice Chair Michelle Bowman promises broad review of bank regul... Around the Web CNBC Trump presses Powell for a full-point interest rate cut despite strong jobs report CNBC U.S. payrolls increased 139,000 in May, more than expected; unemployment at 4.2% Calculated Risk Blog 1st Look at Local Housing Markets in May Marketwatch Jobless claims jump to 8-month high. But it's probably not a sign of rising layoffs from trade wars. CNBC 10-year Treasury yield dips ahead of May jobs data Calculated Risk Blog Comments on May Employment Report Calculated Risk Blog Q2 GDP Tracking: Moving Up CNBC Federal student loan interest rates just fell for the first time in 5 yearshere's what borrowers will pay on new loans Calculated Risk Blog Wholesale Used Car Prices Decreased in May; Up 4% Year-over-year Marketwatch U.S. trade deficit cut in half in April on plunge in imports from Trump tariffs Calculated Risk Blog May Employment Preview Eye on Housing States with Highest and Fastest Rising Construction Wages, 2025 CNBC Trump held call with Xi, Chinese media says

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