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FrontRow · Aug 13, 2026

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After five weeks of gains, mortgage rates fell very slightly last week. That was enough to bring a bit of demand back to the market. Total mortgage application volume rose 3.6% last week compared with the previous week, according to the Mortgage Bankers Association's seasonally adjusted index. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances, $832,750 or less, decreased to 6.77% from 6.81%, with points increasing to 0.67 from 0.65, including the origination fee, for loans with a 20% down payment. "Mortgage rates declined slightly last week as oil prices dipped briefly on the hopes of a sustained resolution to the war in Iran," said Joel Kan, MBA's vice president and deputy chief economist in a release.

After five weeks of gains, mortgage rates fell very slightly last week. That was enough to bring a bit of demand back to the market. Total mortgage application volume rose 3.6% last week compared with the previous week, according to the Mortgage Bankers Association's seasonally adjusted index. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances, $832,750 or less, decreased to 6.77% from 6.81%, with points increasing to 0.67 from 0.65, including the origination fee, for loans with a 20% down payment. "Mortgage rates declined slightly last week as oil prices dipped briefly on the hopes of a sustained resolution to the war in Iran," said Joel Kan, MBA's vice president and deputy chief economist in a release.

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