Despite a high-rate environment and continued economic challenges, borrowers continue to find pockets of opportunity as mortgage applications saw a jump this week, according to the latest data from the Mortgage Bankers Association.
MBA’s latest Weekly Mortgage Applications Survey saw overall mortgage applications jump 10.8% for the week ending June 5, 2026, up from last week’s fall of 2.5% and breaking a three-week streak of decreases. On an unadjusted basis, applications increased 21%.
Mike Fratantoni, MBA’s SVP and chief economist, noted that mortgage rates remained “volatile” last week due to the continued conflict in the Middle East. However, rates do remain lower historically, and there were “opportunities where borrowers were seeing somewhat lower rates.”
Additionally, Fratantoni noted that both refinance and purchase applications “rebounded” as those “opportunities” for borrowers emerged.
The Refinance Index increased 15% from the previous week, and was 20% higher than the same week one year ago. The refinance share of mortgage activity increased to 40.2% of total applications from 38% the previous week.
The seasonally adjusted Purchase Index increased 7% from one week earlier. The unadjusted Purchase Index increased 17% compared with the previous week and was 4% higher than the same week one year ago.
As for other shares of applications, the adjustable-rate mortgage (ARM) share of activity increased to 8.6% of total applications. The FHA share of total applications slightly increased to 17.4% from 17% the week prior. The VA share of total applications decreased to 13.4% from 14.4% the week prior. The USDA share of total applications remained small, falling to 0.4% from 0.5% the week prior.
