The MBA Mortgage Composite Index fell 0.4% for the week ending August 14, 2026, according to the latest data released this morning by the Mortgage Bankers Association (MBA). The slight decline indicates that mortgage demand remains stalled. Buyers are facing a combination of sticky borrowing costs and ongoing housing inventory limits.
Here is how the underlying metrics shaped the index this week:
🗒 Key Survey Takeaways
- Refinance Shifts: The Refinance Index grew by 2%, though the average refinance loan size dropped sharply to $282,200—its lowest mark since June 2025. Larger borrowers largely remain on the sidelines.
- Purchase Volume: The Purchase Index slipped 2% over the week. MBA Vice President Joel Kan noted that persistent home affordability challenges continue to cause prospective buyers to push back their purchasing decisions.
- Rate Environment: The average contract interest rate for a 30-year fixed-rate mortgage held steady at 6.77%. This plateau is providing little pressure to kick off broader home loan demand.
Comment Bellow:
Would you like to take a look at the historical correlation between these application drops and recent housing starts data, or explore how specific loan types (like FHA or VA loans) fared this week?
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