The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($806,500 or less) in the US increased to 6.69% in the week ending August 22 from 6.68% in the previous period. Meanwhile, total mortgage application volume fell 0.5%, extending a 1.4% decline in the previous week. “Prospective buyers appear to be less sensitive to rates at these levels and are more active, bolstered by more inventory and cooling home-price growth in many parts of the country,” said Joel Kan, an MBA economist.