Mortgage applications slumped heading into Memorial Day weekend. Applications decreased by 5.7% on a seasonally adjusted basis during the week ending May 24, according to the Mortgage Bankers Association’s (MBA) weekly mortgage applications survey. 

The MBA said the 30-year fixed mortgage rate rose for the first time in four weeks, to 7.05% from 7.01%. (Other sources, such as HousingWire’s Mortgage Rates Center, did not register any increase over the period. On Wednesday, the Mortgage Rates Center showed the average 30-year fixed rate for conventional loans details ⇒

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