Mortgage slump deepens as rates break through year-ago levels

['Ryan Kingsley', '.Pp-Multiple-Authors-Boxes-Wrapper.Pp-Multiple-Authors-Layout-Boxed.Multiple-Authors-Target-The-Content .Pp-Author-Boxes-Avatar Img', 'Width', 'Important', 'Height', 'Border-Radius', '.Pp-Multiple-Authors-Boxes-Wrapper.Pp-Multiple-Authors-Layout-Boxed.Multiple-Authors-Target-The-Content .Pp-Author-Boxes-Meta A', 'Background-Color', 'Color', 'Ffffff'] Scotsman Guide 2026-08-05 07:45:54

Mortgage rates blew past year-ago levels last week, driving annual declines in purchase and refinance application activity, the Mortgage Bankers Association (MBA) said Wednesday. Get these articles in your inbox Sign up for our daily newsletter Newsletter Signup - Single Field Mobile Email * Sign up If you are human, leave this field blank. Δ Get these articles in your inbox Sign up for our daily newsletter Newsletter Signup - Single Field Email * Sign up If you are human, leave this field blank. Scotsman Guide reported in early July that higher mortgage rates were on the horizon due directly to Warsh’s reform agenda, as well as stabilizing employment trends and a series of compounding inflationary pressures. The average mortgage rate for 30-year fixed-rate loans backed by the FHA increased to 6.43% from 6.41% the previous week.