2025.12.1712:16:36UTC+00US Mortgage Applications Decline

The volume of mortgage applications in the United States decreased by 3.8% in the week ending December 12, 2025. This decline follows a 4.8% increase observed in the previous week and marks the most significant drop in a month, as reported by the Mortgage Bankers Association (MBA). Applications for home purchase mortgages fell by 2.8%, while refinance applications saw a significant decrease of 3.6%. Mike Fratantoni, Senior Vice President at the MBA, remarked, "It's common to see purchase application volumes decrease sharply towards the end of the year, altering the business landscape. Consequently, the refinance share reached 59% last week, the highest level since September." In the same period, the average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances (up to $806,500) climbed to 6.38%, up from 6.33% the previous week.