Mortgage applications fall 0.4% as rates see little change

Mortgage applications decreased 0.4% from one week earlier, according to data from the Mortgage Bankers Association (MBA)’s weekly mortgage applications survey for the week ending Aug. 14, 2026. On an unadjusted basis, the index decreased 1% compared to last week. The refinance index increased 2% from the previous week and was 18% lower than the same week one year ago. The seasonally adjusted purchase index decreased 2% from one week earlier, and the unadjusted purchase index decreased 3% compared with the previous week and was 3% lower than the same week one year ago. “Mortgage rates and applications changed little last week, with just a slight increase in refinances for conventional and VA loans, while FHA refinances were lower,” said Joel Kan, CMB, MBA’s vice president and deputy chief economist. “Borrowers with larger loan sizes remain less likely to refinance with rates at these higher levels. The average loan size on refinances continues to shrink, dipping to $282,200 last week, the lowest level since June 2025.” Added Kan, “Purchase applications decreased and were also lower than last year’s pace. In addition to the economic uncertainty, affordability difficulties have reeme...