The Mortgage Bankers Association said U.S. purchase mortgage applications were 19% below a year earlier in the week ended Oct. 30, 2026, with its unadjusted measure showing continued weakness in home-financing demand.
The association's seasonally adjusted purchase index lost 2% from the prior week. Without seasonal adjustment, the index fell 4% week over week and stood 19% below its level for the same week a year earlier.
Across all mortgage applications, the MBA's seasonally adjusted measure declined 1.2% from the previous week. The unadjusted total fell 2%. The refinance index edged up 0.1% over the week, but remained 60% below its year-earlier level.
Fratantoni said mortgage rates overall had receded to levels last seen in September 2026. The 30-year rate was 7.3%, he said. Fratantoni said purchase applications had weakened over the week, while refinancing changed little and stayed at a very low level.
Adjustable-rate mortgages accounted for their largest share of applications since September 2025, Fratantoni said. He linked the increase to borrowers seeking lower initial payments.
In the preceding week's survey, the MBA's seasonally adjusted purchase index had risen 4% from the week before while remaining 18% below its year-earlier level. EconoTimes covered the MBA's earlier reading. The survey measures mortgage applications, rather than completed home sales.
