07/08/2026
New mortgage applications were down 1% despite rates being in the low-mid 6's. Today rates rose to over 6.5% due to the US launching strikes again in the Middle East. Although fewer buyers are out there as the data suggests, June & July used to be slower months which could be what we are seeing. It will be interesting to see what the next report shows.
Key takeawaysMortgage demand dipped 2.2% over the Fourth of July week, according to the Mortgage Bankers Association.The overall trend was driven by a