09/21/2026
US Mortgage Applications Stall
Mortgage application activity has been holding steady, as many buyers and refinancers are pausing to reassess their options in light of current borrowing costs. Recently, purchase applications dipped by 2% seasonally adjusted, and 3% unadjusted, while refinancing showed a modest 2% increase—making up about 42% of all mortgage activity. Larger-balance borrowers are still hesitating, and affordability concerns are leading some buyers to wait before making a move. On a brighter note, VA applications reached a share of 12.6%. With the 30-year conforming rate hovering around 7% and no rate cuts expected through 2026, patience is important for anyone navigating these decisions. As someone who guides clients through Chicagoland’s dynamic market, I know how crucial it is to stay informed and consider every opportunity carefully.