June 29, 2022 - 8:15am | By Kyle Cornell
(Washington, DC) -- Demand for mortgages was barely lukewarm last week, in spite of a slight decline in interest rates.
The Mortgage Bankers Association reports applications for loans to buy homes inched up one-percent while applications to refinance existing mortgages rose two-percent.
Demand for both types of mortgages are well below their levels at this time last year. The national average interest rate for a 30-year fixed-rate mortgage fell 14 basis points, to five-point-84 percent.