Real Estate

Mortgage demand slides further, even as interest rates pull back slightly


A for sale sign is posted in front of a home that is listed for over $1 million on April 29, 2022 in San Francisco, California.

Justin Sullivan | Getty Images

Mortgage rates turned lower for the second straight week, but it wasn’t enough to boost demand for either new purchase loans or refinances, according to a weekly report from the Mortgage Bankers Association.

Rates are still much higher than they were for the past two years. Last week the average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($647,200 or less) decreased to 5.46% from 5.49%, with points dropping to 0.60 from 0.74 (including the origination fee) for loans with a 20% down…


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