Mortgage demand falls slightly even as rates slip from recent highs

Econ & Housing

Mortgage application volume barely moved last week, falling 0.5% compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index.Rates, meanwhile, dropped back a little bit last week, but they’re still near a 22-year high.The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($647,200 or less) decreased to…

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