Mortgage Applications Slip as Market Sends Mixed Signals

Mortgage bankers association weekly survey

The latest Mortgage Bankers Association (MBA) survey delivered a week of contrasting trends, painting a picture of a market that’s still trying to find its balance. For the week ending November 28, overall mortgage application volume declined by 1.4% on a seasonally adjusted basis — a shift influenced partly by the Thanksgiving holiday.

Purchase Activity Improves… Kind Of

Even as the broader Market Composite Index slipped, the seasonally adjusted Purchase Index posted a 3% rise compared to the previous week. But when unadjusted, purchase activity tells a different story — dropping 32% week‑over‑week.

Despite that dip, purchase applications are still performing better than they were a year ago, coming in at 17% higher. A complex combination of cooling home‑price growth and expanding housing inventory is nudging some buyers back into the game.

Refinances Cool Off as Rates Ease

The Refinance Index fell 4% from the prior week, even though long‑term mortgage rates declined. The refinance share of all mortgage activity also edged down slightly to 53%.

Interestingly, refinances remain 109% higher than they were during the same week in 2024 — highlighting how dramatic the rate landscape has shifted over the past year.

Rates Dip as Economic Clouds Gather

Interest rates slid across most loan types last week, following a drop in Treasury yields sparked by weakening labor market data and softer consumer confidence.

“The 30‑year fixed mortgage rate declined to 6.32% after steadily increasing over the past month,” said Joel Kan, MBA’s vice president and deputy chief economist.

Kan added that refinance activity slowed because many borrowers seem to be waiting for even better opportunities: lower rates.

Adjustable‑Rate Mortgages Rise

With uncertainty still swirling, adjustable‑rate mortgages (ARMs) saw a slight uptick, now making up 8% of total mortgage applications. ARMs often gain appeal during transitional rate environments as borrowers evaluate short‑term cost savings.

Click to explore why this matters for professionals

For real estate, mortgage, and finance professionals, market weeks like this highlight the importance of understanding rate trends and borrower psychology. Purchase activity rising despite economic “cloudiness” means motivated buyers are paying attention — and so should you.

Whether you’re advising clients or leveling up your expertise, staying current is essential. If you’re expanding your professional path, Cameron Academy offers licensing and continuing‑education programs across real estate, mortgage, insurance, and more to help keep you ahead of the curve.

Source

This article is based on reporting from Scotsman Guide. Read the full original story: Mortgage Applications Decrease in Weekly Survey

More Articles

Getting licensed or staying ahead in your career can be a journey—but it doesn’t have to be overwhelming. Grab your favorite coffee or tea, take a moment to relax, and browse through our articles. Whether you’re just starting out or renewing your expertise, we’ve got tips, insights, and advice to keep you moving forward. Here’s to your success—one sip and one step at a time!

Proptech Promised a Revolution — So Why Does Real Estate Still Feel the Same?

Despite billions poured into proptech and a decade of flashy digital upgrades, the real estate experience remains largely unchanged. Apps made processes smoother, but not more transparent — because the industry’s core structures, data control and power dynamics stayed the same. True disruption will come from platforms that shift information and control to consumers, not just digitize outdated systems.

CRE Markets Wake Up in 2026: What Real Estate Professionals Need to Know

Early 2026 is delivering a clear message: commercial real estate is entering a recalibration phase. Construction is softening, pending home sales just saw a sharp drop, consumer sentiment is inching upward but remains fragile, and capital markets are tightening as major CRE sectors face rising distress. From data centers powering ahead to CMBS foreclosures climbing and office-to-residential conversions gaining momentum, professionals across real estate, mortgage, insurance, and finance need to stay sharp as the industry shifts.

Top 10 Highest-Paying Real Estate Careers of 2026

Discover the real estate roles earning the biggest paychecks in 2026. From investment consultants to commercial leasing managers, this breakdown highlights the salaries, responsibilities, and career paths offering the strongest financial potential in today’s evolving market—perfect for newcomers and seasoned professionals mapping their next big move.

Montana Launches Bold Licensing Reform Task Force to Boost Workforce Participation

Montana is taking major steps to remove outdated licensing barriers and strengthen its workforce. Governor Greg Gianforte has created a new Licensing Reform Task Force aimed at modernizing regulations, speeding up approvals, and helping more professionals enter high‑demand fields like construction and healthcare. With licensing numbers doubling over the past decade and rural communities facing critical shortages, the state is pushing for faster, more efficient pathways to work. The task force begins meeting in February and will deliver its full reform report by September 2026 — a move that could influence licensing modernization efforts nationwide.

AI Becomes Standard Gear for Real Estate Agents in 2026

Artificial intelligence has officially moved from novelty to necessity in the real estate world. According to new industry data, 97% of brokerage leaders say their agents now rely on AI tools for everything from listing descriptions to full-scale marketing campaigns. As adoption skyrockets, so do concerns over training, accuracy, and compliance — especially among smaller firms. The message is clear: for today’s real estate professionals, AI literacy isn’t optional anymore.

How the Biggest Players Shaped the 2025 Commercial Real Estate Comeback

Commercial real estate roared back to life in 2025, with more than $255B pouring into multifamily, industrial, office and retail assets. Major investors moved fast on falling interest rates, improving bond yields and rising confidence across sectors. Multifamily dominated with over $115B in deals, industrial surged under private equity leadership, office saw renewed activity from owner-users and retail proved surprisingly resilient. For today’s real estate and finance professionals, the message is clear: opportunity favors those who stay informed and ready to act.