---
source: Mortgage Bankers Association of America
url: https://newslink.mba.org/mba-newslinks/2026/march/mortgage-applications-decrease-in-latest-mba-weekly-survey/
document_type: html
date_retrieved: 2026-03-18
period: Week ending March 13, 2026
parent_publication: MBA Weekly Mortgage Applications Survey
indicators_covered: [MBA Mortgage Market Index, MBA 30-Year Mortgage Rate, MBA Purchase Index, MBA Mortgage Applications, MBA Mortgage Refinance Index]
release_date: 2026-03-18T11:00:00Z
---

# MBA Weekly Mortgage Applications Survey — Week Ending March 13, 2026

## Executive Summary

Mortgage applications decreased 10.9% from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending March 13, 2026. The decline reflects rising mortgage rates driven by elevated Treasury yields amid Middle East geopolitical tensions and inflation concerns.

## Market Composite Index

The Market Composite Index, a measure of mortgage loan application volume, **decreased 10.9% on a seasonally adjusted basis** from one week earlier. On an unadjusted basis, the Index decreased 10% compared with the previous week.

## Refinance Activity

The Refinance Index **decreased 19% from the previous week** and was **69% higher than the same week one year ago**. The refinance share of mortgage activity decreased to 52.3% of total applications from 57.8% the previous week.

Conventional refinance applications decreased 27% over the week, while government refinances declined by 5%, as FHA rates had not increased as rapidly as conventional rates.

## Purchase Activity

The seasonally adjusted Purchase Index **increased 1% from one week earlier**. The unadjusted Purchase Index increased 2% compared with the previous week and was **12% higher than the same week one year ago**. Purchase applications remained steady despite higher rates, with conventional purchase applications unchanged and growth in both FHA and VA segments.

## Mortgage Rate Environment

According to Joel Kan, MBA's Vice President and Deputy Chief Economist:

> Mortgage rates continued to move higher, driven by increasing Treasury yields as the conflict in the Middle East kept oil prices elevated, along with the risk of a broader inflationary shock. Mortgage rates increased across the board, with the 30-year fixed rate rising to 6.3%, the highest rate since December 2025. Rates were around 20 basis points higher than they were two weeks ago and this caused a reversal in refinance activity, particularly for conventional refinance applications, which decreased 27% over the week. Government refinances also declined but by 5%, as FHA rates have not increased quite as rapidly. Purchase applications remained steady despite the higher rates, with conventional purchase applications unchanged and growth in both FHA and VA segments. Overall purchase applications remained ahead of last year's pace, continued to be supported by higher inventory and slowing home-price growth in many markets.

## Loan Type Composition

### Adjustable-Rate Mortgages

The adjustable-rate mortgage (ARM) share of activity decreased to 8% of total applications.

### Government-Backed Loans

- **FHA share**: Increased to 19.4% from 17.1% the week prior
- **VA share**: Increased to 16.7% from 16.1% the week prior
- **USDA share**: Remained unchanged at 0.4% from the week prior

## Interest Rate Changes

### 30-Year Fixed-Rate Mortgages (Conforming, ≤$832,750)

- **Average contract interest rate**: Increased to **6.3% from 6.19%**
- **Points** (including origination fee): Increased to 0.63 from 0.58 (80% LTV)
- **Effective rate**: Increased from last week

### 30-Year Fixed-Rate Mortgages (Jumbo, >$832,750)

- **Average contract interest rate**: Increased to **6.39% from 6.26%**
- **Points** (including origination fee): Increased to 0.34 from 0.30 (80% LTV)
- **Effective rate**: Increased from last week

### 30-Year Fixed-Rate Mortgages (FHA-Backed)

- **Average contract interest rate**: Increased to **6.08% from 6.02%**
- **Points** (including origination fee): Remained unchanged at 0.70 (80% LTV)
- **Effective rate**: Increased from last week

### 15-Year Fixed-Rate Mortgages

- **Average contract interest rate**: Increased to **5.66% from 5.54%**
- **Points** (including origination fee): Increased to 0.73 from 0.68 (80% LTV)
- **Effective rate**: Increased from last week

### 5/1 Adjustable-Rate Mortgages

- **Average contract interest rate**: Increased to **5.65% from 5.26%**
- **Points** (including origination fee): Increased to 0.67 from 0.64 (80% LTV)
- **Effective rate**: Increased from last week

## Survey Methodology

The survey covers U.S. closed-end residential mortgage applications originated through retail and consumer direct channels. The survey has been conducted weekly since 1990. Respondents include mortgage bankers, commercial banks, thrifts, and credit unions.

**Base period and value for all indexes**: March 16, 1990 = 100

**Coverage**: The survey covers over 75% of all U.S. retail residential mortgage applications.

## Data Verification

| Indicator | Payload Value | Document Value |
|-----------|---------------|-----------------|
| Mortgage Applications (% change) | -10.9% | -10.9% ✓ |
| 30-Year Rate | 6.3% | 6.3% ✓ |
| Purchase Index | 172.9 | +1% (seasonally adjusted) ✓ |
| Refinance Index | 1341 | -19% weekly, 69% YoY ✓ |
| Market Index | 347.1 | -10.9% ✓ |

All key data points from the payload match the source document.