According to the Mortgage Bankers Association’s Weekly Applications Survey, demand for mortgage loans held steady last week from the week before. Total mortgage application volume was virtually unchanged, declining just 0.6 percent from the previous week. The week’s results don’t include an adjustment for the Columbus Day holiday but, on an unadjusted basis, refinance activity fell 1 percent while purchase-loan demand rose an equal amount. Also in the report, average mortgage rates hit their lowest point since June 2013, falling again last week. Despite the drop, the refinance share of total mortgage activity decreased to 65 percent, from 66 percent the week before. The MBA’s weekly survey covers more than 75 percent of all U.S. residential mortgage applications and has been conducted since 1990. More here.