Mortgage rates for 30-year fixed loans dropped slightly to 7.41% last week from 7.50%, yet mortgage applications continued to decline. Purchase applications fell 7% week-over-week and were down 18% from last year, while refinance requests dropped 2% weekly and 59% annually. Despite the rate decrease, high overall borrowing costs and rising rates over the past year have kept demand low, with many buyers opting for adjustable-rate mortgages to secure lower initial rates. The market shows ongoing sensitivity to elevated rates, impacting home sales and refinancing activity.
Mortgage rates for 30-year fixed loans dropped slightly to 7.41% last week, while mortgage demand continued to fall. For readers following the Financials sector, here is Pluang's market snapshot as of Oct 21, 2026 17:51 WIB: out of 142 priced US Financials stocks, 82 rose and 54 fell. Notable movers include ONB at USD 24.50 with a 1-day change of -3.30%, RIOT at USD 14.22 with a 3.27% gain and a Pluang order activity split of 51% Sell / 49% Buy, and COF at USD 208.00 with a 3.20% rise and 96% Buy order activity, typical hold time 115 days.
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