Mortgage applications decreased 10% for the week ending July 11, 2025, influenced by increased mortgage rates. The Freddie Mac 30-year mortgage interest rate rose to 6.72%. The Market Composite Index, adjusted seasonally, experienced a decline of 10%. The refinance index decreased by 7% while remaining 25% higher year over year. Despite a 12% drop in the seasonally adjusted purchase index, the unadjusted purchase index saw an increase of 11%. FHA applications increased by 19%, while VA loan applications dropped by 12.6%.
The demand for home loans took a tumble after three consecutive weeks of increases, with mortgage applications decreased 10% for the week ending July 11, 2025.
The refinance index decreased 7% from the previous week and was 25% higher year over year, indicating a fluctuating trend in refinancing activities.
Treasury yields finished higher last week on average despite an intra-week drop, driven partly by renewed concerns of the impact of tariffs on the economy.
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