Last week, there was an increase in demand for mortgages; however, the upward trend of interest rates may hinder the potential for a more significant surge in volume. Specifically, the average contract interest rate for conforming 30-year fixed-rate mortgages, which are loans of $726,200 or less, dropped from 6.71% to 6.48%. Mortgage rates Over the … Continue reading Despite Rising Interest Rates, Mortgage Demand Shows Growth Once More