# A snapshot of today's mortgage market.

By Brian Cavanaugh (@briancavanaugh) · Published 2026-10-05

Canonical: https://voce.com/@briancavanaugh/snapshot-today-mortgage-market-fcii6e

---

_A snapshot of today's mortgage market._

**30-Year Fixed PMMS: 7.28%** **▲** **from 7.03%**  
Freddie Mac’s latest weekly average moved up 25 basis points. A year ago, it averaged 6.34%.  
  
**Total Mortgage Applications: 6.0%** **▼** **Weekly**  
MBA reported overall application volume declined 6.0% for the week ending September 25.  
  
**Purchase Applications: 4%** **▼** **Weekly | 14%** **▼** **Year Over Year**  
Purchase activity declined again in MBA’s latest weekly survey.  
  
**Refinance Applications: 9%** **▼** **Weekly | Refi Share 38.3%** **▼** **from 39.3%**  
Refinance applications declined, but refis still make up a meaningful share of current mortgage activity.  
  
**Existing-Home Sales: 3.98 Million Annual Pace** **▼** **2.0% Monthly | 1.2%** **▼** **Year Over Year**  
Nearly 4 million existing homes are still selling at an annualized pace.  
  
**New-Home Sales: 684,000 Annual Pace** **▲** **6.4% Monthly | 2.0%** **▼** **Year Over Year**  
August new-home sales increased from July’s 643,000 pace.