Although mortgage rates haven’t come down significantly as many Americans have wished for, lenders are reporting increased demand for home purchase loans and don’t seem overly concerned by economic conditions that are far from ideal.

Data at HousingWire’s Mortgage Rates Center on Tuesday showed that 30-year conforming rates averaged 6.88%, down 1 basis point (bps) from a week ago, while 15-year conforming rates have dropped 8 bps during the week to average 6.63%.

Rates were unlikely to change much following last week’s meeting of Federal Reserve policymakers. Chair Jerome Powell and the other members of the Federal Open details ⇒