The volume of mortgage applications in the US soared by 9.4% from the previous week in the first week of July 2025, the most in one month, according to data compiled by the Mortgage Bankers' Association.
It was the third consecutive weekly growth in application volumes, the longest streak since early December 2024, as benchmark mortgage rates softened to their lowest since April.
Applications for a contract to refinance a mortgage, which are more sensitive to short-term changes in interest rates, jumped by 9% from the previous week and 56% from the corresponding period of the previous year.
In turn, applications for a mortgage to purchase a home also rose by 9% on the week, translating to a 25% increase on an annual basis.
source: Mortgage Bankers Association of America
