Mortgage applications increased 10.8% from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) weekly mortgage applications survey for the week ending June 5, 2026.

Last week’s results included an adjustment for the Memorial Day holiday. On an unadjusted basis, the index increased 21% compared with the previous week.

The refinance index increased 15% from the previous week and was 20% higher than the same week one year ago. The refinance share of mortgage activity increased to 40.2% of total applications from 38.0% the previous week.

The seasonally adjusted purchase index increased 7% from one week earlier, while the unadjusted purchase index increased 17% compared with the previous week and was 4% higher than the same week one year ago.

“Mortgage rates were volatile last week as news from the Middle East continues to drive markets,” said Mike Fratantoni, MBA’s SVP and chief economist. “While the average rate was up slightly, with the 30-year fixed rate now at 6.6%, there were opportunities where borrowers were seeing somewhat lower rates. Both refinance and purchase applications rebounded coming out of the Memorial Day holiday week, with refinance applications up 15% and purchase applications up 7%.”

By product, the Federal Housing Administration (FHA) share of total applications increased to 17.4% from 17% the week prior. The U.S. Department of Veterans Affairs (VA) share of total applications decreased to 13.4% from 14.4% the week prior. The U.S. Department of Agriculture (USDA) share of total applications decreased to 0.4% from 0.5% the week prior.

The adjustable-rate mortgage (ARM) share of activity increased to 8.6% of total applications.

The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances increased to 6.6% from 6.57%, while rates for 30-year fixed-rate mortgages with jumbo loan balances remained unchanged at 6.66%.

The average contract interest rate for 30-year fixed-rate mortgages backed by the FHA increased to 6.27% from 6.26%, and rates for 15-year fixed-rate mortgages increased to 5.99% from 5.93%. The average contract interest rate for 5/1 ARMs increased to 5.96% from 5.82%.

Xactus Mortgage Intent Index

Xactus‘s Mortgage Intent Index — which analyzes aggregated, anonymized credit-pull activity across the Xactus Intelligent Verification Platform — increased to a reading of 134.8, a week-over-week change of 20.57%.

“The Xactus Mortgage Intent Index rebounded approximately 21% from the prior week, which was impacted by the Memorial Day holiday,” said Thomas Lloyd, Xactus’ chief strategy officer.

Lloyd said that despite the increase, activity remains “modestly below” both month-over-month and year-over-year levels, with the index down just under 2% on each measure.

He continued, “As the interest rate environment has remained relatively stable over the past several weeks, the data may suggest that borrowers are beginning to adjust to a higher-for-longer rate environment. Supporting that view, year-over-year declines have moderated from negative 3%–4% range earlier in May to approximately negative 1%–2% over the past two weeks.”

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