Mortgage Demand Up as Rates Fall to 7.6 Percent

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Speaking of borrowing costs for and what about mortgage demand? Well, in a positive sign for borrowers to the average 30 year fixed mortgage rate fell to 7.6% last week from nearly 7.9%. The week before the biggest one week drop in mortgage rates last week led to the first increase in mortgage demand in a month. Total. Mortgage application volume rose 2.5% last week according to the Mortgage Bankers Association applications to refinance a home also rose up 2% for the week and they fell 7% from a year ago when rates were lower.