In the week ending July 3, mortgage rates rose 10.9%, more than making up for the feeble previous week. More details (and more encouraging figures) here: Mortgage applications rebound.

Demand for mortgages to buy homes and refinance loans bounced from seven-month lows last week, with average 30-year borrowing rates unchanged, the Mortgage Bankers Association said on Wednesday. The industry group's total loan applications index rose a seasonally adjusted 10.9% to 493.1 in the week ended July 3, after slumping the prior week to the lowest level since November.