Homes at a new development in Fontana, California, US, on Saturday, May 9, 2026.

Kyle Grillot | Bloomberg | Getty Images

Homebuyers appear to be getting used to the new normal of higher mortgage rates, even the highest in over a month. Buyer demand for mortgages helped to push total mortgage application volume up 1.7% last week compared with the previous week, according to the Mortgage Bankers Association's seasonally adjusted index.

The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances, $832,750 or less, increased to 6.46% from 6.45%, with points decreasing to 0.63 from 0.66, including the origination fee, for loans with a 20% down payment.

Applications for a mortgage to purchase a home rose 4% for the week and were 7% higher than the same week one year ago.…