FX.co ★ US Mortgage Applications Rebound

In the week ending June 6, 2025, the volume of mortgage applications in the United States experienced a noteworthy increase of 12.5%, rebounding from a previous 3.9% decline, as reported by the Mortgage Bankers Association. Refinancing applications, which are particularly responsive to weekly rate fluctuations, rose significantly by 15.6%, while applications for purchasing a home went up by 10.3%. Joel Kan, Vice President and Deputy Chief Economist at the MBA, stated in a recent release, "Following the Memorial Day holiday, mortgage applications have risen to their highest level in over a month. Movement in Treasury rates during the week provided additional opportunities for borrowers." Despite the prevailing economic uncertainties, homebuyers are seemingly capitalizing on the expanding housing inventory in certain areas, as noted by Kan. Concurrently, the average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances (up to $806,500) edged up by one basis point to 6.93%.