For the second week in a row, mortgage demand has barely moved, as interest rates also remain stuck in the mud.

Total mortgage application volume fell 0.5% last week compared with the previous week, according to the Mortgage Bankers Association's seasonally adjusted index.

The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances, $806,500 or less, increased to 6.69% from 6.68%, with points remaining unchanged at 0.60, including the origination fee, for 80% loan-to-value ratio, or LTV, loans.

Applications to refinance a home loan fell 4% for the week and were 19% higher than the same week one year ago. The refinance share of mortgage activity decreased to 45.3% of total applications from 46.1% the previous week.

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