FX.co ★ U.S. MBA Mortgage Applications Nearly Stall, Slipping to 0.4% Weekly Gain

Mortgage activity in the United States slowed sharply in the latest week, with MBA Mortgage Applications rising just 0.4% week-over-week, down from a 2.8% increase in the prior period. The data, updated on 25 February 2026, point to a notable loss of momentum in housing market demand after a more robust showing the week before.

The comparison, measured on a week-over-week basis, shows that while applications are still edging higher, the pace of growth has cooled considerably. The previous reading reflected the change from two weeks ago to last week, whereas the latest figure captures the move from last week to the current week. This deceleration suggests that borrowers may be becoming more cautious, with fewer new applications driving the overall index despite it remaining in positive territory.

For market participants, the softer rise in mortgage applications may be an early signal of waning housing demand or increased sensitivity to borrowing conditions. Although the indicator has not turned negative, the sharp step down from 2.8% to 0.4% will likely draw attention from investors and policymakers watching the housing sector as a barometer of broader U.S. economic activity.