Mortgage applications jumped 1.2 percent from a week ago, according to data from the Mortgage Bankers Association.
The group said falling mortgage rates are behind the uptick — and falling mortgage rates are due to a broader slowdown in wages and economic growth.
"Purchase applications continued to be hampered by broader weakness in the housing market and declined slightly over the week, with the index slipping to its lowest level since 2014,” said Joel Kan, vice president and deputy chief economist at MBA.
The average contract interest rate for 30-year fixed-rate mortgages fell 16 basis points from 6.58 percent to 6.42 percent.
There was also a notable bump in refinancing applications. Their share of mortgage activity increased to 30.7 percent from 30.3 percent a week ago, also on the back of falling mortgage interest rates.
This is still down 80 percent from a year ago, when rock-bottom rates led to a spree of refinancing activity.
Kristian Kerr, Head of Macro Strategy at LPL Financial, breaks down the firm's 2026 Mid-Year Outlook, recession risks, AI, the Fed, and what's next for markets.
Jess Inskip, Director of Investor Research at StockBrokers.com, breaks down Q2, the AI trade, Fed policy, earnings, and where investors should look next.
Quantum computing is moving from science fiction to national strategy. Infleqtion CEO Matt Kinsella explains Trump's new executive order and what it means.
Americans traveled in record numbers over July 4th despite rising costs. Skift's Sarah Kopit explains what it says about consumers, airfares, and summer travel.
The U.S. economy is being held up in part by the AI boom, but that boom could still lead to broader prosperity or inequality, says a Nobel Prize winner.
Foundation Robotics co-founder Michael LeBlanc explains how humanoid robots are moving from the lab to military and industrial missions and what comes next.
Jeff Burnstein, President of the Association for Advancing Automation (A3), discusses humanoid robots, AI, smart manufacturing, and the future of U.S. industry.
