Both mortgage rates and weekly mortgage demand are stuck in place, suggesting a slow summer housing market

The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances decreased to 6.93% from 6.94%

Applications for a mortgage to purchase a home increased 1% for the week but were 13% lower than the same week one year ago.continue to rise, mortgage rates aren't coming off recent highs, and consumers are unimpressed by the small increase in home listings.All of that is reflected in weekly mortgage demand, which has been stuck for the second week in a row. Total mortgage application volume was essentially flat last week, up just 0.

Applications to refinance a home loan were unchanged week-to-week but were 26% higher than the same week one year ago.

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Both mortgage rates and weekly mortgage demand are stuck in place, suggesting a slow summer housing marketTotal mortgage application volume was essentially flat last week, up just 0.8% from the previous week, according to the Mortgage Bankers Association’s…
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