Mortgage application activity declined again last week, though the drop was more moderate than the prior week’s pullback. According to MBA’s Weekly Applications Survey for the week ending October 10, total volume fell 1.8% on a seasonally adjusted basis and 2% unadjusted. The Refinance Index slipped 1% from the previous week but remains 59% higher than the same week one year ago. Refi activity has flattened out after September’s surge but continues to hold at elevated levels as some FHA borrowers take advantage of a rate gap of more than 10 basis points below conventional loans. “Mortgage rate movements were mixed last week, with the 30-year fixed rate decreasing slightly to 6.42 percent. Mortgage applications were lower than the week before, as conventional and VA applications saw declines,” said Joel Kan, MBA’s Vice President and Deputy Chief Economist. “FHA applications saw a stronger week, and FHA refinance applications in particular increased 12 percent as the FHA rate stayed more than 10 basis points lower than the conventional fixed rate. Purchase applications declined for the third consecutive week but remained 20 percent ahead of last year’s pace as improving inventory conditions in certain markets continue to maintain homebuyer interest.” Purchase applications decreased 3% from the previous week on a seasonally adjusted basis and 2% unadjusted, but were still 20% stronger than a year ago. Activity continues to show resilience relative to last year’s depressed levels as buyers respond to slightly better inventory conditions.

October 15, 2025 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.27% -0.04%   6.13% 7.26% 15 Yr. Fixed 5.82% -0.01%   5.6% 6.59% 30 Yr. Jumbo 6.20% -0.02%   6.14% 7.45% Compare Mortgage Rates from Local Lenders for Oct 15, 2025 Mortgage Rates Slip to Another Multi-Week Low Wed, Oct 15, 2025 4:26PM Mortgage rates are based on bonds and bonds are trading at their best levels since September 17th.  Of course there are different kinds of bonds, so we should specify that we're talking about the bonds that are specifically tied to mortgages (MBS or mortgage backed securities).  With this in mind, it's no surprise to see mortgage rates also at the lowest levels since September 17th.  The same was true yesterday, but today marked another incremental improvement.  Compared to yesterday, the bond market was actually fairly flat. So why did rates improve? It has to do with ti... (read more) Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.27% -0.04 0.00 15 Yr. Fixed 5.82% -0.01 0.00 30 Yr. FHA 6.00% -0.03 0.00 30 Yr. Jumbo 6.20% -0.02 0.00 7/6 SOFR ARM 5.71% -0.01 0.00 30 Yr. VA 6.02% -0.03 0.00 Updates Daily - Last Update: 10/15 Freddie Mac Rate Change Points 30 Yr. Fixed 6.30% -0.04 0.00 15 Yr. Fixed 5.53% -0.02 0.00 Updates Weekly - Last Update: 10/9 Mortgage Bankers Assoc. 30 Yr. Fixed 6.43% -0.03 0.60 15 Yr. Fixed 5.77% +0.01 0.79 30 Yr. Jumbo 6.60% +0.06 0.44 Updates Weekly - Last Update: 10/8 UMBS 30YR 5.0 99.74 +0.01   95.05 99.96 UMBS 30YR 5.5 101.11 +0.01   97.47 101.28 10 YR Treasury 4.022 -0.007   3.932 4.780 Everything Winning on Combo of Trade Tensions, Fed Speak, and Earnings Wed, Oct 15, 2025 10:16AM Stocks have made a bit of a round trip since last Friday when Trump's tariff comments sparked a big sell-off.  Bonds benefited from that at the time.  So far this week, stocks have staged a solid comeback--especially today as upbeat earnings and Fed rate cut expectations provide support.  Bonds continue to rally on multiple Fed comments that f... (read more) MBS Price Change UMBS 4.5 97.75 -0.01 UMBS 5.0 99.74 +0.01 UMBS 5.5 101.11 +0.01 GNMA 4.5 97.76 +0.02 GNMA 5.0 99.98 +0.04 GNMA 5.5 101.01 +0.08 Pricing as of: 10/16 6:12AM EST US Treasury Yield Change 2 YR Treasury 3.494 -0.006 5 YR Treasury 3.613 -0.007 7 YR Treasury 3.797 -0.007 10 YR Treasury 4.022 -0.007 30 YR Treasury 4.613 -0.013 Pricing as of: 10/16 6:12AM EST Other News Mortgage Apps Dip, But Demand Still Running Strong After September Surge Wed, Oct 15, 2025 9:46AM Mortgage application activity declined again last week, though the drop was more moderate than the prior week’s pullback. According to MBA’s Weekly Applications Survey for the week ending October 10, total volume fell 1.8% on a seasonally adjusted basis and 2% unadjusted. The Refinance Index slipped 1% from the previous week but remains 59% higher than the ... (read more) Borrower Monitoring, AI Processing, DPA, Verification Tools; Events and Training; Robots Will do What? Wed, Oct 15, 2025 11:51AM While the debate rages on about whether the three colors of candy corn taste different, at the other end of the tech spectrum, lenders are weeding out unused or out-of-date technology, reviewing new tools, all the while looking at bad developments in the IT world. (Speaking of tools, Ben Teerlink, Founder/CEO, MMI, will be interviewed today at 11AM PT on the... (read more) Latest Video Treasury Sec. Bessent: Stock market decline won't deter U.S. from taking st... Fed Chair Powell suggests rate cuts are likely to continue Treasury Secretary Scott Bessent: 'Not at all' worried about mass unemploym... U.S. 10-year Treasury briefly breaks below 4% Around the Web Realtor.com HUD Makes Deep Layoffs at Fair Housing Office During Government Shutdown Eye on Housing Builders Stay Cautious as Single-Family Permits Weaken CNBC Major real estate developers are fast becoming power brokers CNBC CPI inflation report will be released by Labor Department, while other data is delayed by shutdown CNBC Treasury yields inch lower as investors weigh trade developments CNBC Watch Fed Chair Powell speak live on policy at the NABE conference in Philadelphia CNBC Treasury yields fall as investors look ahead to speech by Fed's Powell Eye on Housing Custom Home Building Share Declines in 2024 CNBC Most U.S. consumers expect higher holiday prices and a weaker economy, survey finds CNBC Global bonds rally as fresh trade tensions send investors flocking to safety Calculated Risk Blog A year ago: Lance Lambert Interviews Me on the Housing Market Investing Live US BLS recalls staff to finish CPI report, prioritising Social Security and Fed timelines FXStreet UoM Consumer Sentiment Index edges lower to 55 in October vs 54.2 forecast

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