After a record-breaking summer of refinance and home buying activity, demand for mortgage loans seems to be waning, according to the Mortgage Bankers Association. Total home loan applications increased 1.7% in the latest week, after falling for the past four consecutive weeks. Lower mortgage rates led to a 3% uptick in refinance requests, but home purchase loans applications were essentially flat (0.2% increase) as buyers continue to face rising prices and a lack of inventory.
