Mortgage Applications Decreased in Week Ending July 11

Washington, DC, July 16, 2025-Mortgage applications decreased 10% from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending July 11, 2025. 

The Market Composite Index, a measure of mortgage loan application volume, decreased 10% on a seasonally adjusted basis from one week earlier.  On an unadjusted basis, the Index increased 13% compared with the previous week. The Refinance Index decreased 7% from the previous week and was 25% higher than the same week one year ago. The seasonally adjusted Purchase Index decreased 12% from one week earlier. The unadjusted Purchase Index increased 11% compared with the previous week and was 13% higher than the same week one year ago.

“Treasury yields finished higher last week on average despite an intra-week drop, driven partly by renewed concerns of the impact of tariffs on the economy. As a result, mortgage rates rose after two weeks of declines, which contributed to slower application activity,” said Joel Kan, MBA’s vice president and deputy chief economist.

The refinance share of mortgage activity increased to 41.1% of total applications from 40% the previous week. The adjustable-rate mortgage (ARM) share of activity decreased to 7.1% of total applications.