In the ever-fluctuating mortgage environment of late, mortgage applications saw a decrease but were overall “little changed” this week as rates saw a slight uptick, according to the latest data from the Mortgage Bankers Association (MBA).
MBA’s Weekly Mortgage Applications Survey for the week ending July 3, 2026 (with an adjustment for the Fourth of July holiday) saw mortgage applications fall 2.2%, a shift downward from last week’s slight increase of 0.04%. On an unadjusted basis, the Index fell 12% compared with the previous week.
Mike Fratantoni, MBA’s SVP and Chief Economist, said that application volume was “little changed” this week as the “30-year fixed rate increased slightly to 6.58%.”
He added that “after adjusting for the Independence Day holiday, government purchase volume increased modestly, led by a 5% gain in VA purchase applications, while conventional purchase activity declined.”
Additionally, Fratantoni noted that refinance application volume was also down as “homeowners saw little enticement to act with rates still elevated.”
Purchase applications specifically saw a decrease of 1% from one week earlier, while the unadjusted Purchase Index decreased 11% compared with the previous week.
As for refinancing, the Refinance Index fell 4% from the previous week. The refinance share of mortgage activity slightly decreased to 40.6% of total applications from 41.4% the previous week.
Despite falls in both purchasing and refinancing, both indexes are up year-over-year by 5% and 8%, respectively.
In terms of other shares in activity, the adjustable-rate mortgage (ARM) share of activity increased to 7.8% of total applications. The VA share of total applications increased to 13% from 12.9% the week prior. The USDA share of total applications increased to 0.5% from 0.4% the week prior. The FHA share of total applications saw the only decrease, from 16.9% the week prior to 16.4%.
