Mortgage Applications Increase 3.2% Amid Market Volatility

Mortgage applications increased 3.2% from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) weekly mortgage applications survey for the week ending March 6, 2026.

On an unadjusted basis, the index increased 4.1% compared with the previous week.

The refinance index 0.5% from the previous week and was 81% higher than the same week one year ago. The refinance share of mortgage activity decreased to 57.8% of total applications from 59.8% the previous week.

The seasonally adjusted purchase index increased 7.8% from one week earlier. The unadjusted purchase index increased 9.3% compared with the previous week and was 11% higher than the same week one year ago.

“Financial markets were volatile last week amid the ongoing turmoil in the Middle East. Mortgage rates increased on net over the week, while refinance volume was roughly flat. Borrowers in recent weeks were able to get 30-year conforming rates below 6%, but with the current volatility, longer-term rates have moved up, pushing up the 30-year fixed rate to 6.19%,” said Mike Fratantoni, MBA’s SVP and chief economist. “Purchase activity increased last week, particularly for FHA loans, which moved up more than 11%. The pace of homebuying continues to track ahead of last year’s pace, with overall purchase volume up 10%. More inventory on the market is supporting more transactions.”

The adjustable-rate mortgage (ARM) share of activity increased to 8.9% of total applications.

The Federal Housing Administration (FHA) share of total applications increased to 17.1% from 15.8% the week prior. The U.S. Department of Veterans Affairs (VA) share of total applications decreased to 16.1% from 17.1% the week prior.

The U.S. Department of Agriculture (USDA) share of total applications remained unchanged at 0.4%.

The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances increased to 6.19% from 6.09%. Average rates for jumbo loans increased to 6.26% from 6.16%.

Rates for 30-year fixed-rate mortgages backed by the FHA increased to 6.02% from 5.97% and 15-year fixed-rate mortgage rates increased to 5.54% from 5.49%.

The average contract interest rate for 5/1 ARMs, meanwhile, decreased to 5.26% from 5.32%.

Xactus Mortgage Intent Index

Data from Xactus‘s Mortgage Intent Index — which analyzes aggregated, anonymized credit-pull activity across the Xactus Intelligent Verification Platform — saw a high reading of 159.1 for the week ending March 6 as the spring homebuying season warmed up.

The reading marked a month-over-month change of 16.30%.

“The spring homebuying season is underway, and early volumes are extremely positive — showing the highest Intent Index reading since our 2023 benchmark,” said Thomas Lloyd, chief strategy officer for Xactus. “The weekly index rose 3.65% from the prior week and is 5.02% higher than the same week last year.”