{"id":623591,"date":"2026-10-07T19:10:17","date_gmt":"2026-10-07T19:10:17","guid":{"rendered":"https:\/\/www.newsbeep.com\/nz\/623591\/"},"modified":"2026-10-07T19:10:17","modified_gmt":"2026-10-07T19:10:17","slug":"mortgage-application-volume-falls-as-refi-demand-hits-2025-low","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/nz\/623591\/","title":{"rendered":"Mortgage application volume falls as refi demand hits 2025 low"},"content":{"rendered":"<p dir=\"ltr\"><a href=\"https:\/\/www.mpamag.com\/us\/companies\/freddie-mac\/488305\" rel=\"nofollow noopener\" target=\"_blank\">Freddie Mac<\/a> separately pegged <a href=\"https:\/\/www.mpamag.com\/us\/mortgage-industry\/market-updates\/mortgage-rates-surge-to-their-highest-level-in-nearly-three-years\/591981\" rel=\"nofollow noopener\" target=\"_blank\">the 30-year average at 7.28% for the week ending October 1, the highest since November 2023<\/a>. The 10-year Treasury note, meanwhile, surged to 5.35% on Wednesday, a level not reached since 2002.\u00a0<\/p>\n<p dir=\"ltr\">The yield has climbed nearly 60 basis points since late July,\u00a0a run fueled by persistent inflation, rising energy costs, and mounting concern over federal debt levels.<\/p>\n<p dir=\"ltr\">For brokers, the figures describe a market with no clear release valve: every major loan category declined, with affordability constraints squeezing Federal Housing Administration (FHA) and first-time buyers most acutely.<\/p>\n<p>&#13;<\/p>\n<p dir=\"ltr\" lang=\"en\">Michael Brenning, chief operating officer at eLend, says rapid swings in Treasury yields are forcing lenders to reprice multiple times a day, disrupting rate locks, increasing operational pressure, and adding another layer of uncertainty for borrowers. https:\/\/t.co\/uq8yZ4wEqP<\/p>\n<p>&#13;<br \/>\n\u2014 Mortgage Professional America Magazine (@MPAMagazineUS) <a href=\"https:\/\/x.com\/MPAMagazineUS\/status\/2107080105570734272?ref_src=twsrc%5Etfw\" rel=\"nofollow\">October 5, 2026<\/a><\/p>\n<p>Refinance activity collapses<\/p>\n<p dir=\"ltr\">Applications to refinance a home loan fell 8% week-over-week, hitting their lowest point since 2025 and tracking 56% below the same period one year ago.<\/p>\n<p dir=\"ltr\">&#8220;Very few homeowners have an incentive to refinance at these rates,&#8221; said Joel Kan, vice president and deputy chief economist at the MBA in Washington, D.C.<\/p>\n","protected":false},"excerpt":{"rendered":"Freddie Mac separately pegged the 30-year average at 7.28% for the week ending October 1, the highest since&hellip;\n","protected":false},"author":2,"featured_media":623592,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[138,219,20379,306627,3364,111,139,69],"class_list":["post-623591","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-business","tag-economy","tag-mortgage-applications","tag-mortgage-bankers-association-mba","tag-mortgage-rates","tag-new-zealand","tag-newzealand","tag-nz"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/623591","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/comments?post=623591"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/623591\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/623592"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=623591"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=623591"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=623591"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}