Mortgage applications decreased 1.2% from one week earlier, per data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending May 23, 2025. On an unadjusted basis, the index decreased 2% compared with the previous week.

The refinance index decreased 7% from the previous week, but remained 37% higher than the same week one year ago. The refinance share of mortgage activity decreased to 34.6% of total applications from 36.6% the previous week.

Amid all of the decreases, the seasonally adjusted purchase index saw an increase of 3% from one week earlier. The unadjusted purchase index details ⇒

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