Joel Kan

“Borrowers with larger loan sizes remain less likely to refinance with rates at these higher levels. The average loan size on refinances continues to shrink, dipping to $282,200 last week, the lowest level since June 2025.”

Joel Kan · said date not stated · reported 2026-08-19

Kan noted that larger loan borrowers are less likely to refinance and that average refinance loan size is shrinking.

“Mortgage rates and applications changed little last week, with just a slight increase in refinances for conventional and VA loans, while FHA refinances were lower,”

Joel Kan · said date not stated · reported 2026-08-19

Kan commented on the MBA's weekly mortgage application data showing little change in rates and applications.

“In addition to the economic uncertainty, affordability difficulties have reemerged as a reason for homebuyers to delay purchase decisions given the impact of higher mortgage rates on monthly mortgage payments,”

Joel Kan · said date not stated · reported 2026-08-19

Kan explained that affordability concerns are causing homebuyers to delay purchase decisions amid higher mortgage rates.