On September 19th, 2025, mortgage rates experienced a significant drop, leading to a notable increase in mortgage applications across the country. The average rate for a 30-year fixed mortgage fell to 6.39%, marking the lowest level since October 2024. Alterna Mortgage 30-year mortgage rate that day was 5.875%.
Mortgage Application Trends
According to the latest survey by the Mortgage Bankers Association (MBA), overall mortgage applications surged by 29.7% last week—the largest weekly gain in more than a year. When not adjusted for seasonality, applications climbed an impressive 43% compared to the previous week.
Refinancing Activity
The most significant growth was seen in refinancing applications, which soared 58% from the previous week and registered a 70% increase from the same period last year.
Purchase Applications
Purchase applications also demonstrated strength, rising 3% with seasonal adjustment and 12% without adjustment. Compared to last year, purchase applications were up 20%.
The market is starting to heat up. Alterna Mortgage has .375% lower rates than most of the competition. Call or email me for a quote today.
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