Mortgage rates leveled off recently and mortgage demand picked up. 

Mortgage application volume rose 2.8% over the last week, the Mortgage Bankers Association (MBA) reported on Wednesday. Applications to purchase a home increased about 6%, bucking a recent trend where refinance applications generally were pushing demand. 

“The recent strength in purchase activity continues, supported by lower rates and higher inventory levels, which are giving prospective buyers more options compared to earlier in the year,” MBA economist Joel Kan said in a release.