AI Data Insight
The U.S. MBA Purchase Index at the end of May 2026 dropped to 164.8 from 169.7 in the previous week, indicating a retreat in buying momentum during the traditional peak season. The 30-year mortgage rate remained at a high level of over 6.5%, leading to a contraction in both home purchase and refinancing applications. Short-term housing market momentum is expected to remain suppressed until capital costs substantially decline.