MBA US Mortgage Applications Decline in Week Ended Sept. 4 as Mortgage Rates Climb

07:04 AM EDT, 09/09/2026 (MT Newswires) -- Mortgage applications fell by 2.7% in the week ended Sept. 4 as a further increase in 30-year fixed mortgage rates depressed both refinancing activity and new home applications, according to Mortgage Bankers Association data released Wednesday. This follows a 0.8% increase in overall activity in the week ended Aug. 28. Applications for refinancing loans fell by 6.2% to their slowest pace since May 2025, while new purchase applications declined by a seasonally adjusted 0.2%, with a shift toward adjustable-rate mortgages. The average contract interest rate for 30-year fixed mortgages with loan balances of $832,750 or less rose to 6.85% from 6.79% in the previous week on concerns about inflation and the climbing budget deficit, hitting its highest point since June 2025. "Higher mortgage rates continue to weigh on prospective homebuyers looking to act, even as housing inventory has increased in many markets," said Joel Kan, MBA's vice president and deputy chief economist.