Mortgage applications increased 7.1 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending October 24, 2025.
The Market Composite Index, a measure of mortgage loan application volume, increased 7.1 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 7 percent compared with the previous week. The seasonally adjusted Purchase Index increased 5 percent from one week earlier. The unadjusted Purchase Index increased 4 percent compared with the previous week and was 20 percent higher than the same week one year ago.
The Refinance Index increased 9 percent from the previous week and was 111 percent higher than the same week one year ago.
The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($806,500 or less) decreased to 6.30 percent from 6.37 percent, with points decreasing to 0.58 from 0.59 (including the origination fee) for 80 percent loan-to-value ratio (LTV) loans.
Yesterday, The Fed lowered their target rate by 25 basis points. And the 30-year conforming rate index fell by 0.037 basis points to 6.155%.
On the government shutdown side, USDA applications fell more than 26 percent.
Fed Chair Jerome Powell at The Federal Reserve Building in Washington DC.
Confounded Interest - Anthony B. Sanders 