Weekly mortgage applications increase by 11%

Mortgage Applications in the U.S. Increase by 11% in One Week

In the United States, mortgage applications rose by 11% in the week ending May 2, 2025, compared to the previous week. According to the latest report from the Mortgage Bankers Association (MBA), this increase was observed in both home purchase applications and mortgage refinancing.

The rise is linked to a slight drop in mortgage interest rates. The average rate for a 30-year fixed mortgage declined slightly from 6.89% to 6.84%.

Home purchase applications increased by 11% overall, with conventional loans seeing a 13% rise. Applications for loans backed by the Federal Housing Administration (FHA) also went up by 9%. Refinancing applications rose at the same rate—11%—compared to the previous week.

Refinancing activity is now 51% higher than it was during the same period last year. Applications for loans supported by the Department of Veterans Affairs (VA) saw a 26% surge in particular.

Experts note that a significant drop in mortgage rates is unlikely in the near term, but even small fluctuations can lead to noticeable changes in market activity.

These trends highlight the impact of broader economic factors on the U.S. housing market.