Mortgage lenders and brokers probably aren’t very busy.
Mortgage application volume fell 1.7 percent last week, according to the mortgage bankers group.
Volume was 15 percent lower compared with a year ago.
Consumers are also showing weak demand for mortgage refinances— 32 percent lower than a year ago.
Interest rates for 30 year mortgages are now above 5 percent.
Adjustable rate mortgages are gaining steam.