Mortgage applications decreased 0.3 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending February 6, 2026.

The Market Composite Index, a measure of mortgage loan application volume, decreased 0.3 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 2 percent compared with the previous week. The Refinance Index increased 1 percent from the previous week and was 101 percent higher than the same week one year ago. The seasonally adjusted Purchase Index decreased 2 percent from one week earlier. The unadjusted Purchase Index increased 4 percent compared with the previous week and was 4 percent higher than the same week one year ago.

“Mortgage applications were relatively flat over the week, but it was a mixed bag for the different loan types. The 30-year fixed rate was unchanged at 6.21 percent, and conventional applications declined for both purchases and refinances as borrowers held out for another drop in rates or shifted to other loan types,” said Joel Kan, MBA’s Vice President and Deputy Chief Economist. “FHA purchase and refinance applications increased, helped partially by the FHA rate declining and remaining 20 basis points lower than the conforming 30-year fixed rate.”

Added Kan, “Borrowers are increasingly utilizing FHA loans as affordability challenges remain, despite recent improvements. Similarly, the ARM share increased to a seven-week high with ARM rates almost a percentage point lower than fixed rates."

The refinance share of mortgage activity decreased to 56.4 percent of total applications from 57.1 percent the previous week. The adjustable-rate mortgage (ARM) share of activity increased to 8.0 percent of total applications.

The FHA share of total applications increased to 18.4 percent from 17.8 percent the week prior. The VA share of total applications increased to 16.0 percent from 15.8 percent the week prior. The USDA share of total applications remained unchanged at 0.4 percent from the week prior.

The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($832,750 or less) remained unchanged at 6.21 percent, with points remaining unchanged at 0.56 (including the origination fee) for 80 percent loan-to-value ratio (LTV) loans. The effective rate increased from last week.

The average contract interest rate for 30-year fixed-rate mortgages with jumbo loan balances (greater than $832,750) decreased to 6.30 percent from 6.32 percent, with points remaining unchanged at 0.34 (including the origination fee) for 80 percent LTV loans. The effective rate decreased from last week.

The average contract interest rate for 30-year fixed-rate mortgages backed by the FHA decreased to 6.01 percent from 6.04 percent, with points increasing to 0.68 from 0.67 (including the origination fee) for 80 percent LTV loans. The effective rate decreased from last week.

The average contract interest rate for 15-year fixed-rate mortgages increased to 5.65 percent from 5.61 percent, with points increasing to 0.68 from 0.63 (including the origination fee) for 80 percent LTV loans. The effective rate increased from last week.

The average contract interest rate for 5/1 ARMs decreased to 5.33 percent from 5.37 percent, with points increasing to 0.67 from 0.58 (including the origination fee) for 80 percent LTV loans. The effective rate decreased from last week.