Weekly mortgage demands dipped after interest rates started increasing again last week. While the noted increase did not even reach 1%, it still created an immediate effect on mortgage demand, which had already started strengthening over several weeks.
According to CNBC, the 30-year fixed-rate mortgage with conforming loan balances of $766,550 or less saw an increase in interest rate from 7.01% to 7.05%, with points increasing from 0.60 to 0.63, which already includes the origination fee for loans with a 20% down payment.
