Overview

• Applications for home purchase mortgages dropped 4% last week, marking the slowest pace since February 2025.
• Refinance applications also fell 4%, with average refinance loan sizes hitting a three-month low under $290,000.
• The average rate for 30-year fixed mortgages stabilized at 6.87%, following a four-day decline earlier in the week.
• Freddie Mac's weekly average 30-year mortgage rate dipped slightly to 6.81%, reflecting minor rate improvements.
• Broader economic uncertainty and labor market concerns continue to suppress housing demand despite modest rate decreases.