MBA US Mortgage Applications Fall Further in Week Ended Sept. 25; Mortgage Rates Near Three-Year High

07:05 AM EDT, 09/30/2026 (MT Newswires) -- Mortgage applications fell by 6% in the week ended Sept. 25 as the highest average 30-year fixed mortgage rate in nearly three years pushed down both refinancing activity and new home applications, Mortgage Bankers Association data released Wednesday showed. This follows a 1.5% decrease in overall activity in the week ended Sept. 18. Applications for refinancing loans fell by 9%, while new purchase applications declined by a seasonally adjusted 4%. The average contract interest rate for 30-year fixed mortgages with loan balances of $832,750 or less rose to 7.30% from 7.12% in the previous week. "The 30-year fixed rate increased for the sixth consecutive week to 7.3%, the highest rate since November 2023," said Joel Kan, MBA's vice president and deputy chief economist. "Mortgage applications fell by 6% due to the recent surge in rates, with purchase and refinance applications both declining to their slowest weekly pace since 2025."