Good news for the housing market! The latest Mortgage Bankers Association (MBA) survey for the week ending June 6, 2025, shows a significant increase in mortgage applications, signaling renewed positive sentiment among homebuyers and those looking to refinance.
Key Highlights:
- Overall Growth: Mortgage applications jumped 12.5% week-over-week, hitting their highest level in over a month.
- Strong Purchase Activity: The Purchase Index rose 10% seasonally adjusted, and is up a notable 20% compared to this time last year. This suggests active homebuyers are leveraging loosening inventory in some markets.
- Refinance Uptick: The Refinance Index climbed 16% from the previous week and is 28% higher year-over-year.
Rate Snapshot:
- 30-year fixed rates (conforming/jumbo) slightly increased to 6.93%.
- 15-year fixed rates decreased to 6.16%.
- FHA-backed 30-year fixed rates dropped to 6.60%.
- 5/1 ARMs saw an increase to 6.22%.
Realtors:
This surge in applications indicates increased buyer interest, creating more opportunities for transactions. It’s an excellent time to engage pre-approved buyers and highlight available listings.
Homebuyers:
While rates fluctuate, the overall rise in applications shows a competitive market. Partner with a mortgage professional to explore loan options with the most favorable interest rate. The current momentum suggests a good time to consider making your move.
The housing market continues to show resilience. Stay informed and work with your real estate and lending experts to navigate these conditions effectively!
Here’s my link to apply = Loan Application
Source: Link to article
About Me
I’m Sal Trapani, a trusted mortgage broker and the owner of MJ Mortgage LLC, based in Magnolia, Texas. I work with homebuyers across Texas, helping them navigate the loan process with clarity, strategy, and confidence.
Contact Information:
Sal Trapani
Mortgage Broker / Owner
MJ Mortgage LLC
281-608-2846 cell
sal@mjmortgagellc.com
www.mjmortgagellc.com
NMLS 1055510 / NMLS 2381195