Robin Azougi 1st R, a licensed real estate salesperson with Douglas Elliman Real Estate, talks with prospective buyers at a house for sale in Floral Park, Nassau County, New York, on Sept. 6, 2020.
Wang Ying | Xinhua News Agency | Getty Images
After three straight weeks of declines, mortgage demand came crawling back, thanks to a drop in interest rates.
Total application volume rose 4.2% last week from the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index.
Refinances led the gains, rising 6% for the week. They were still 22% lower than the same week one year ago because so many borrowers already refinanced last fall, when rates hit record lows. The…