US mortgage applications fall for fifth-straight week

7th Oct 2026 11:58

(Sharecast News) - US mortgage applications fell 4.2% in the week ended 2 October, according to the Mortgage Bankers Association, marking a fifth straight decline and taking activity to its lowest level since January 2025.

Applications to refinancing a mortgage, which are typically more sensitive to short-term interest rate changes, slid 7.5% on the week, while applications to purchase a home were 2.1% lower.

The drop came as the 30‑year fixed mortgage rate jumped to 7.49%, its highest in nearly three years, with long‑dated Treasury yields continuing to surge despite efforts to stabilise the market through increased bill issuance and expanded buybacks.

Reporting by Iain Gilbert at Sharecast.com