Mortgage application activity eased last week, but not in a statistically significant way. One might be inclined to note a very slight uptick in mortgage rates, but it’s just as fair to say that rates held steady near longer-term lows. The Mortgage Bankers Association’s weekly survey showed a 1.4% decline in the seasonally adjusted Composite Index for the week ending August 15, 2025.
“Mortgage rates increased slightly last week, with the 30-year fixed rate now at 6.68 percent,” said Joel Kan, MBA’s Vice President and Deputy Chief Economist. VA applications fell 16%, while FHA refinance applications increased as FHA rates remained comparatively competitive.
The Refinance Index decreased 3% week-over-week but remains about 23% higher than the same week a year ago.
