Homebuyers finally responded, after mortgage rates hit lowest level in three months

Published Wed, Jul 9 20257:00 AM EDTUpdated Wed, Jul 9 20257:53 AM EDT

By: Diana Olick

A for-sale sign hangs in front of a house in Patchogue, New York, on June 1, 2024.Steve Pfost | Newsday | Getty Images

A brief drop in interest rates caused a strong bump in otherwise tepid mortgage demand. Total mortgage application volume jumped 9.4% last week compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. Last week’s results included an adjustment for the July Fourth holiday. LEARN MORE…

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