In an aerial view, a residential neighborhood is seen on June 4, 2026 in Pembroke Pines, Florida. <\/p>\n
Joe Raedle | Getty Images<\/p>\n
Mortgage rates didn’t budge last week, leaving little incentive for either homebuyers or current homeowners to call their lenders.<\/p>\n
Total mortgage application volume was essentially flat from the previous week, down 0.4%, according to the Mortgage Bankers Association’s seasonally adjusted index. <\/p>\n
The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances, $832,750 or less, remained unchanged at 6.77%, with points decreasing to 0.65 from 0.67, including the origination fee, for loans with a 20% down payment. <\/p>\n
Applications to refinance a home loan rose 2% for the week and were 18% lower than the same week one year ago, when rates were slightly lower. <\/p>\n
“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, vice president and deputy chief economist at the MBA, in a release. “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.”<\/p>\n
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