Mortgage demand drops for the third straight week

A For Sale sign sits in front of a home on May 12, 2025 in Miami, Florida. Joe Raedle | Getty ImagesMortgage rates fell slightly last week, but that did nothing to spur mortgage demand. Total mortgage application volume dropped 3.9% 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...