Mortgage demand remains resilient despite fluctuating interest rates.

Despite a rise in interest rates last week, demand for mortgages rebounded, with total mortgage application volume rising 3.7% compared to the previous week, according to the Mortgage Bankers Association's seasonally adjusted index. Applications to buy a home rose 5% last week, while applications to refinance a home loan increased 2% from the previous week. Homebuyers today are seeing house prices ease, and that may be boosting demand. While prices are still higher than they were a year ago on a national basis, some of the most expensive metropolitan markets are now seeing prices lower than a year ago.