Mortgage application activity fell last week, reversing prior momentum and highlighting continued softness in both purchase and refinance demand. The Mortgage Bankers Association’s weekly survey showed a 3.8% decline in the seasonally adjusted Composite Index for the week ending July 25, 2025. “Mortgage applications fell to their lowest level since May, with both purchase and refinance activity declining over the week,” said Joel Kan, MBA’s Vice President and Deputy Chief Economist. “The 30‑year fixed rate was little changed at 6.83%, but high enough to deter refinancing, pushing the refinance index lower for the third straight week. Purchase applications decreased by almost 6 percent, as conventional, FHA, and VA purchase loans declined despite slowing home‑price growth and rising inventory.” The Refinance Index dropped 1% week‑over‑week, though it remains about 30% above last year’s level. The Purchase Index posted a 6% weekly decrease, but still sits roughly 17% higher than the same week in 2024. Purchase applications declined across the board, while refinance activity also softened. The 30‑year fixed rate held steady at 6.83% after a slight drop from the week prior. Mortgage Rate Summary: 30yr Fixed: 6.83% (from 6.84%) | Points: 0.60 (down from 0.62) 15yr Fixed: 6.12% (down from 6.14%) | Points: 0.64 (down from 0.69) Jumbo 30yr: 6.74% (down from 6.75%) | Points: 0.51 (down from 0.70) FHA: 6.56% (up from 6.52%) | Points: 0.83 (up from 0.79) 5/1 ARM: 6.22% (up from 6.01%) | Points: 0.51 (up from 0.28)

August 1, 2025 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.15% -0.02%   6.01% 7.13% 15 Yr. Fixed 5.72% -0.03%   5.55% 6.5% 30 Yr. Jumbo 6.33% -0.02%   6.1% 7.45% Compare Mortgage Rates from Local Lenders for Aug 1, 2025 Mortgage Rates Instantly Drop to 4 Month Lows After Jobs Report Fri, Aug 1, 2025 3:36PM Every month, we offer the same old warning/reminder ahead of the big jobs report--something to the effect of "no other economic report has as much power to cause volatility in rates, for better or worse."  Days like today are the reason for that reminder. Thankfully, it was the "better" end of the spectrum. Rates tend to improve when economic data is weaker than expected. Today's jobs report was only moderately weaker at the headline level (73k vs 110k forecast), but it was the revisions to the past months that really got the market's attention.  Those revisions removed 253k jobs fr... (read more) Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.15% -0.02 0.00 15 Yr. Fixed 5.72% -0.03 0.00 30 Yr. FHA 5.75% -0.05 0.00 30 Yr. Jumbo 6.33% -0.02 0.00 7/6 SOFR ARM 5.56% -0.03 0.00 30 Yr. VA 5.77% -0.04 0.00 Updates Daily - Last Update: 2/6 Freddie Mac Rate Change Points 30 Yr. Fixed 6.11% +0.01 0.00 15 Yr. Fixed 5.50% +0.01 0.00 Updates Weekly - Last Update: 2/5 Mortgage Bankers Assoc. 30 Yr. Fixed 6.24% +0.08 0.55 15 Yr. Fixed 5.64% +0.09 0.61 30 Yr. Jumbo 6.34% -0.05 0.40 Updates Weekly - Last Update: 1/28 UMBS 30YR 5.0 100.05 +0.01   95.71 100.50 UMBS 30YR 5.5 101.49 +0.04   98.11 101.64 10 YR Treasury 4.213 +0.033   3.932 4.608 Big Old Rally After HUGE Downward NFP Revisions Fri, Aug 1, 2025 11:59AM Non-farm payrolls came in at 73k vs 110k, which is a pretty good thing for the bond market in and of itself.  But the bigger story is in the net revisions to the last 2 months. 139k reported in June became 19k.  147k reported last month was revised to 14k!  That means, on average, the last 2 NFPs were 126.5k lower.  It completely ref... (read more) MBS Price Change UMBS 4.5 98.06 +0.03 UMBS 5.0 100.05 +0.01 UMBS 5.5 101.49 +0.04 GNMA 4.5 97.84 +0.10 GNMA 5.0 100.18 +0.11 GNMA 5.5 101.22 -0.02 Pricing as of: 2/7 12:31PM EST US Treasury Yield Change 2 YR Treasury 3.496 +0.044 5 YR Treasury 3.753 +0.036 7 YR Treasury 3.965 +0.026 10 YR Treasury 4.213 +0.033 30 YR Treasury 4.851 +0.006 Pricing as of: 2/7 12:31PM EST Other News Mortgage Applications Fall as Rates Held Near Highs Fri, Aug 1, 2025 3:28PM Mortgage application activity fell last week, reversing prior momentum and highlighting continued softness in both purchase and refinance demand. The Mortgage Bankers Association’s weekly survey showed a 3.8% decline in the seasonally adjusted Composite Index for the week ending July 25, 2025. “Mortgage applications fell to their lowest level since May, wit... 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