Mortgage application volume continued to fall during the week of June 13, according to the Mortgage Bankers Association's weekly application survey.
Applications declined 8.8 percent, as fewer consumers sought out new loans and refinanced mortgages. That brought mortgage applications to their lowest rate in six years, due in part to a 15 percent drop in the refinancing gauge.
The Market Composite Index was 508.4, a significant decline from 557.1 in the previous week. The numbers were adjusted to account for the Memorial Day holiday. On an unadjusted basis, the decline was greater - down 9.6 percent on a week-to-week basis and 21.3 percent on a year over year basis.
The Refinance Index decreased 15 percent to 1378.6 from 1622.1 last week. Accordingly, 37.46 percent of mortgage activity took place through refinancing last week, down from 39.8 percent in the previous week. The conventional and government purchase indices also saw declines of 6.1 and 3.3 percent, respectively.
The adjustable-rate mortgage share made up less than 10 percent of total activity, down to 9.7 from 10.3 percent of total applications.
Interest rates increased across the board for all kinds of mortgages. They jumped from 6.24 percent to 6.57 percent on the 30-year fixed-rate, from 5.78 percent to 6.14 percent for the 15-year fixed-rate, and from 6.87 percent to 7.22 percent for the one-year ARM.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.