On the heels of the Federal Reserve pausing its rate hikes, mortgage demand increased, but only slightly.

For the week that ended June 21, mortgage applications only climbed 0.5% from the prior week, according to the Mortgage Bankers Association. This slow growth highlights that while demand is there and rates have fallen for three consecutive weeks, activity continues to be constrained by low levels of affordable inventory.

“The 30-year fixed mortgage rate declined for the third consecutive week to 6.73%, while other mortgage rates saw mixed results. Purchase applications increased, driven by a details ⇒

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