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      U.S. Mortgage Applications Decline as Rates Approach 7%

      U.S. mortgage applications decreased by 4.1% last week, reaching their lowest level since May 2025. This decline is attributed to rising interest rates, with the 30-year conforming mortgage rate climbing to 6.97% and jumbo mortgage rates rising to 7.03%.

      The significant drop in applications is particularly evident in refinancing, which fell by 8.8%. As mortgage rates continue to rise, the pressure on housing demand and refinancing activity is expected to intensify, potentially impacting the overall real estate market in the United States.

      © 2026 KLEA News. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

      Source: KLEA News

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