Mortgage demand rose 1.0% week-over-week as 30-year fixed rates held steady near 6.59%, reversing prior declines.
US mortgage applications climbed 1.0% to an index level of 272.1 for the week ended June 21, marking the first increase after three consecutive weekly declines. The rise contrasts with a 3.8% drop the prior week, when the index stood at 269.5.
The average 30-year fixed mortgage rate remained nearly unchanged at 6.59%, down one basis point from 6.60% the previous week. The data reflects a modest rebound in housing market activity amid stable borrowing costs.
No immediate market reaction was reported following the release.