Perhaps it is the August lull or the start of a more prolonged slowdown in the housing market, but homeowners and homebuyers seem unimpressed by the lowest mortgage interest rates of the year.

Total mortgage application volume barely moved last week, down 0.5 percent from the previous week, according to the Mortgage Bankers Association. That's the second consecutive seasonally adjusted week of minimal moves.



Mortgage applications to refinance a home loan rose 0.3 percent from the previous week and are 38 percent lower than the same week one year ago, when rates were lower. The refinance share of total applications did rise to its highest level since January, at 48.7 percent of total applications.