In a volatile week for interest rates, mortgage demand pulled back

Last week saw a big swing in mortgage interest rates, and that took a toll on demand. Total mortgage application volume fell 1.9% compared with the previous week, according to the Mortgage Bankers Association's seasonally adjusted index.For the week, the average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances, $806,500 or less, increased to 6.31% from 6.30% for loans with a 20% down payment. That was the weekly average, but rates actually fell to the lowest level in ove ...