Mortgage applications decreased, interest rates increased in the USA

Mortgage Bankers Association (MBA) announced mortgage application data for the week ending September 11. Accordingly, mortgage applications decreased by 4.1 percent last week compared to the previous week.

During this period, mortgage applications for purchasing a house decreased by 1 percent and refinancing applications decreased by 9 percent. The average interest rate for a 30-year mortgage in the country increased from 6.85 percent to 6.97 percent last week.

During the same period, the average interest rate for a 15-year mortgage increased from 6.17 percent to 6.30 percent.

Rising energy prices, high inflation and ongoing market concerns about future monetary policy pushed bond yields and mortgage interest rates higher last week, MBA Vice President Joel Kan said.

Kan pointed out that mortgage interest rates also increased as the 10-year US Treasury bond yield approached 5 percent, and noted that the interest rate for a 30-year mortgage reached its highest level since May 2025.