Current homeowners and potential homebuyers are responding to lower mortgage rates, albeit slowly. Mortgage demand rose 2.8% last week, compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. That was the second straight week of gains. After dropping sharply the previous week, the average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($726,200 or less) remained unchanged at 7.61% last week, with points decreasing to 0.67 from 0.69, including the origination fee, for loans with a 20% down payment. Click Here to Read More…