Mortgage applications decreased 0.4% from one week earlier, according to data from the Mortgage Bankers Association(MBA)’s weekly mortgage applications survey for the week ending Aug. 14, 2026.
On an unadjusted basis, the index decreased 1% compared to last week.
The refinance index increased 2% from the previous week and was 18% lower than the same week one year ago. The seasonally adjusted purchase index decreased 2% from one week earlier, and the unadjusted purchase index decreased 3% compared with the previous week and was 3% lower than the same week one year ago.
“Mortgage rates and applications changed little last week, with just a slight increase in refinances for conventional and VA loans, while FHA refinances were lower,” said Joel Kan, CMB, MBA’s vice president and deputy chief economist. “Borrowers with larger loan sizes remain less likely to refinance with rates at these higher levels. The average loan size on refinances continues to shrink, dipping to $282,200 last week, the lowest level since June 2025.”
Added Kan, “Purchase applications decreased and were also lower than last year’s pace. In addition to the economic uncertainty, affordability difficulties have reemerged as a reason for homebuyers to delay purchase decisions given the impact of higher mortgage rates on monthly mortgage payments.”
The refinance share of mortgage activity increased to 41.9% of total applications from 40.7% the previous week. The adjustable-rate mortgage (ARM) share of activity decreased to 7.7% of total applications.
By product, the Federal Housing Administration(FHA) share of total applications decreased to 17.1% from 17.3% the week prior. The U.S. Department of Veterans Affairs(VA) share of total applications increased to 12.6% from 12.3% the week prior.
The U.S. Department of Agriculture(USDA) share of total applications remained unchanged at 0.5%.
The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($832,750 or less) remained unchanged at 6.77%, while the average interest rate for 30-year fixed-rate mortgages with jumbo loan balances increased to 6.71% from 6.68%.
The average contract interest rate for 30-year fixed-rate mortgages backed by the FHA increased to 6.45% from 6.43% while rates for 15-year fixed-rate mortgages decreased to 6.08% from 6.1%. The average contract interest rate for 5/1 ARMs decreased to 5.94% from 5.99%.
Xactus Mortgage Intent Index
Xactus’sMortgage Intent Index— which analyzes aggregated, anonymized credit-pull activity across the Xactus Intelligent Verification Platform — increased to a reading of 120.9, a week-over-week change of 1.60%.
“The Xactus Mortgage Intent Index rebounded 1.6% week over week, offering a modest improvement after recent declines,” Thomas Lloyd, Xactus’ chief strategy officer, said in a statement. “However, overall intent remains muted, with the index approximately 10% below the same week last year, a slight improvement from last week’s roughly 11.7% year-over-year decline.”
Lloyd said that there has been “little catalyst” for an increase in borrower activity since rates have relatively stayed the same.
He added, “Absent a significant shift in rates, mortgage intent is likely to remain subdued through the Labor Day holiday, as seasonality factors historically temper weekly volumes.”