The mortgage demand is falling on vacation, but remains an annual momentum

Some top LOs have also observed an increase in volume this year, despite the volatility in the market. Benjamin Cohen in Chicago, who works at Ratereported an increase of 36% on an annual basis in its business volume, which includes 20% to 25% for non-qualified mortgages (non-QMS).

“People know that interest rates are no longer 3%, so I don’t think that’s a problem. And I don’t think the rate is increasing [imposed by the Trump administration on other countries] Have a real influence on the housing market, “said Cohen.

At the end of the day, according to Cohen, consumers understand that if the rates are not at 3%, but their families grow and they have to move, there is a clear message.

“The rate means nothing if it doesn’t work for you,” he said. Cohen usually emphasizes the needs of the borrower, including house prices that are affordable, downturn capacity and monthly expenditure comfort.

Since April, the mortgage interest rate has fluctuated between 6.8% and 7%. Last week the rates for most loans were lower, according to KAN.

MBA data shows the average rate for 30-year fixed rates for conforming mortgage contracts (Saldi loan of $ 806,500 or less) was 6.92%, a decrease of 6.98% last week. Jumbo -Loans (more than $ 806,500) were also an average of 6.92%, a slight decrease of 6.93% the week before.

The refinancing index fell by 4% compared to the last week, but remained 42% higher than the same week a year ago. In the meantime, the seasonal purchasing index fell by 4% compared to the previous week. The non -adapted purchase index fell 15% week after week, but was still 18% higher than the same week last year.

The refinancing share of the mortgage activity increased to 35.2% of the total applications, an increase of 34.6% the last week. The mortgage share (poor) share of the adjustable speed fell to 7.1%. Weapons usually win market share when the rates are increased because borrowers have access to lower initial rates compared to traditional mortgages with fixed interest rates.

Per product, the Federal Housing Administration (FHA) The share of the total applications continued to accept and rises from 17.9% to 18.7% during the week. The US Department of Veterans Affairs (From) The share of the applications increased by 30 basic points to 12.6% while the U.S. Ministry of Agriculture (USDA) Share remained unchanged at 0.5%.

“Purchasing requests from the government were not changed much in the week driven by a slight increase in FHA purchase requests,” said Kan. “The refinancing activity fell in both conventional and government segments and the overall average refinancing size was the smallest since July 2024, because potential borrowers continue the larger tariffing.”