Mortgage applications edged higher last week as borrowing costs fell to a one-month low, offering temporary relief to homeowners but doing little to revive buyer demand, according to the Mortgage Bankers Association.
Total application volume rose 1.8%, driven by a 5% jump in refinancing activity, the report said. Refinance demand was also 15% higher than a year ago, reflecting sensitivity to lower rates. The average 30-year fixed mortgage rate declined to 6.42% from 6.51%.
Mortgage applications rise as rates fall to one-month low https://t.co/IfOOmsyDw5
— CNBC (@CNBC) April 15, 2026
According to MBA economist Joel Kan, falling rates were linked to market volatility tied to the Iran war and its impact on energy prices. Lower oil prices have influenced bond yields, which in turn affect mortgage rates.
However, homebuying activity remains weak. Purchase applications fell 1% for the week and were below last year’s levels for a second straight week. Economic uncertainty continues to keep potential buyers on the sidelines.
Also Read:
TIPP Staff
