FX.co ★ US Mortgage Applications Rise Further

In the final week of June 2025, the US witnessed a 2.7% rise in mortgage applications compared to the previous week, following a 1.1% increase noted earlier. This data, sourced from the Mortgage Bankers Association, aligns with a continued decline in key mortgage rates, as the rate for a 30-year fixed mortgage fell by 9 basis points, reaching a nearly three-month low of 6.79%. This adjustment in benchmark borrowing rates mirrored the movement of longer-term Treasury yields, amid diminished concerns over high inflation and tariffs. Meanwhile, applications for refinancing mortgages, which are particularly sensitive to short-term shifts in interest rates, saw a significant 7% increase. Conversely, applications for purchasing new homes remained largely stable.