Mortgage applications ticked up again last week, signaling a steady improvement in housing market activity even as mortgage rates saw a slight increase. According to the Mortgage Bankers Association, total application volume rose 0.6% on a seasonally adjusted basis for the week ending November 7. While unadjusted volume slipped by 1%, the underlying trend shows growing buyer interest as the year winds down. Refinance activity fell 3% for the week, but compared to last year, refi demand remains extremely strong—up 147% from this time in 2024. Even with the recent rate uptick pulling the average refinance loan amount to its lowest level in more than a month, refinance volume is still operating at a much healthier post-pandemic pace.
Purchase activity saw the biggest boost, rising 6% seasonally adjusted to its strongest level since September. MBA Deputy Chief Economist Joel Kan said buyers are stepping back in across all major loan types—conventional, FHA, and VA—particularly in markets where inventory is growing and price appreciation has cooled. On an unadjusted basis, purchase applications were up 3% for the week and stand 31% higher than a year ago, making this the strongest early November for purchase demand since 2022. The share of refinances made up 55.6% of all mortgage applications, with adjustable-rate mortgages slipping to 7.8%. FHA volume rose to 19.4%, VA applications dipped to 14.8%, and USDA loans remained unchanged.
Mortgage rates saw modest upward movement, with the 30-year fixed rising to 6.34%, the 15-year reaching 5.70%, and jumbo rates climbing to 6.46%. Despite the slight increases, rates remain well below the highs of 2023 and continue to give both buyers and refinancing homeowners more breathing room. With mortgage rates holding in a moderate range and more homes hitting the market, both purchase and refinance activity are showing stronger momentum than earlier in the year. These signs suggest that demand is stabilizing and could finish the year on a firmer footing than many expected.
🔍 If you’re looking to get the best possible mortgage in the U.S. for Foreign Nationals and Americans, and want to run an auction between more than 3,000+ lenders, click here👇
Creative Financing – Nadlan Capital Financing for Foreign Nationals & Americans
Continue reading on our site:
https://www.forumnadlanusa.com/2025/11/purchase-demand-near-best-levels-since-january-2023/
#MortgageNews #HousingMarketUpdate #RefinanceBoom #HomebuyingTrends #RealEstate2025