Economics

Mortgage rates moved lower to end 2025 and start 2026, but that did little to pull demand back to the market.

For the week ended Jan. 2, 2026, total mortgage application volume fell 9.7% on a seasonally adjusted basis from two weeks earlier, according to the Mortgage Bankers Association’s seasonally adjusted index. There were additional adjustments made for the holidays, and the read is for two weeks because the MBA did not report last week.