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Refinancing Applications Surge 14% Amid Falling FHA Rates

12/10/2025

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Summary

Story summary

Refinancing activity rose last week, with applications up 14% from the prior week and volume up 88% year-over-year, per the Mortgage Bankers Association.
The refinance share increased to 58.2% of mortgage activity.
Federal Housing Administration refinances surged 24% as the FHA 30-year fixed rate fell to 6.08%, the lowest since September 2024.
Meanwhile, the average rate for conforming 30-year fixed-rate mortgages rose to 6.33%.

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Story summary

Refinancing activity rose last week, with applications up 14% from the prior week and volume up 88% year-over-year, per the Mortgage Bankers Association.
The refinance share increased to 58.2% of mortgage activity.
Federal Housing Administration refinances surged 24% as the FHA 30-year fixed rate fell to 6.08%, the lowest since September 2024.
Meanwhile, the average rate for conforming 30-year fixed-rate mortgages rose to 6.33%.