Mortgage rates fell slightly last week, spurring a more than 6% increase in total mortgage demand, according to the Mortgage Bankers Association. The average 30-year fixed-rate mortgage for conforming loans slightly decreased, while points for a 20% down payment remained steady. Home purchase applications rose 12% weekly and were 52% higher than the same week last year, driven by increased inventory and economic resilience. The average purchase loan size reached just below $440,000.
