Mortgage application activity moved lower again last week, extending the pullback from January’s earlier burst of demand as weather disruptions and softening purchase activity weighed on overall volume. The Mortgage Bankers Association (MBA) reported that applications declined 8.9% for the week ending January 30. The Market Composite Index fell 8.9% on a seasonally adjusted basis, while rising 4% on an unadjusted basis, highlighting the continued volatility in weekly application data following a period of unusually strong activity earlier in the month. This week, purchase activity took center stage and drove much of the weakness. The seasonally adjusted Purchase Index dropped 14% from the prior week, while unadjusted purchase applications increased 2% but were only 4% higher than the same week one year ago—lowest levels since November 2025 and the weakest annual increase since April 2025. Joel Kan, MBA’s Vice President and Deputy Chief Economist, pointed to Winter Storm Fern as a key factor, noting that widespread snowfall likely hampered homebuying activity across large parts of the country. Refinance volume also declined, though by a smaller margin. The Refinance Index fell 5% from the previous week but remained 117% higher than a year earlier. Despite mortgage rates edging modestly lower, Kan noted that the change was not significant enough to materially boost refinance demand.

February 6, 2026 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 Feb 6, 2026 Mortgage Rates Match Lowest Levels in Over 2 Weeks Fri, Feb 6, 2026 12:51PM In the bigger picture, the past two and a half weeks have been marked by a very narrow range in the bond market. Because bonds dictate mortgage rates, the latter have also been in a narrow range with average top tier 30yr fixed rates of 6.15-6.20%.  Yesterday's employment-related data helped bonds improve. Many lenders made mid-day improvements to mortgage rates yesterday, but there was enough of a tailwind that the average lender was lower again this morning--now in line with the lower boundary of the recent range. Next Wednesday's labor market data is a higher stakes event--one that c... (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 5.0 100.09 +0.05   95.71 100.50 UMBS 30YR 5.5 101.56 +0.11   98.11 101.64 10 YR Treasury 4.205 +0.025   3.932 4.608 Waiting on Next Week's Data Fri, Feb 6, 2026 9:53AM Friday is the quietest day of the week in terms of scheduled econ data and events, with the relatively unimportant Consumer Sentiment being the only notable report. Bonds are roughly unchanged to start the session. Treasury yields are technically a few bps higher from yesterday's 5pm levels, but right in line with 3pm (what many would argue to be the proper ... (read more) MBS Price Change UMBS 4.5 98.06 +0.04 UMBS 5.0 100.04 0.00 UMBS 5.5 101.48 +0.02 GNMA 4.5 97.82 +0.08 GNMA 5.0 100.12 +0.05 GNMA 5.5 101.22 -0.02 Pricing as of: 2/6 5:29PM EST US Treasury Yield Change 2 YR Treasury 3.496 +0.044 5 YR Treasury 3.756 +0.040 7 YR Treasury 3.973 +0.034 10 YR Treasury 4.206 +0.025 30 YR Treasury 4.848 +0.004 Pricing as of: 2/6 5:29PM EST Other News Winter Weather Puts Purchase Applications on Ice Fri, Feb 6, 2026 11:32AM Mortgage application activity moved lower again last week, extending the pullback from January’s earlier burst of demand as weather disruptions and softening purchase activity weighed on overall volume. The Mortgage Bankers Association (MBA) reported that applications declined 8.9% for the week ending January 30. The Market Composite Index fell 8.9% on a ... (read more) BBYS, Servicer Risk, Verification Tools; Non-Agency News; Why Mortgage Rates Are Sticky Fri, Feb 6, 2026 11:31AM Products, Services, and Software for Brokers and Lenders Truework is a comprehensive income and employment verification platform that fully replaces manual in-house waterfalls and provides mortgage lenders with a single automated solution to run their verification processes. With Truework, lenders see up to 50% cost savings on verifications while increasin... (read more) Latest Video Jobless claims rise more than expected Consumer sentiment improves as inflation worries ease, survey shows Private payrolls rose by just 22,000 in January, far short of expectations:... ISM non-manufacturing PMI comes in at 53.8 vs. 53.5 estimated Around the Web Eye on Housing The Size of the Housing Shortage: 2024 Data Breaking The News US consumer confidence improves in February Morningstar U.S. Economy Shed Nearly 1 Million Job Openings Last Year CNBC Treasury yields edge lower as investors weigh the state of the U.S. economy Eye on Housing Builders Top Challenges for 2026 BLS JOB OPENINGS AND LABOR TURNOVER – DECEMBER 2025 CNBC Layoffs hit their worst January levels since 2009, Challenger says FXStreet United States Continuing Jobless Claims below forecasts (1.85M) in January 23: Actual (1.844M) CNBC Treasury yields move lower as investors await more jobs data MBA Mortgage Applications Decrease in Latest MBA Weekly Survey CNBC January jobs report will be released on February 11 after shutdown delay PR Newswire Services PMI® at 53.8%; January 2026 ISM® Services PMI® Report FXStreet United States S&P Global Services PMI above forecasts (52.5) in January: Actual (52.7)

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