Mortgage rates

However, both Zillow's and Optimal Blue put the 30-year fixed mortgage lower than where it was seven days prior.

The May uptick in nonbank housing-finance payrolls came almost entirely from lender hiring as loan broker numbers plateaued and construction demand persisted.

A resilient U.S. economy, lingering inflation and comments from the Federal Reserve contributed to a 10-basis-point hike in the 30-year fixed rate, Freddie Mac said.

The 30-year-fixed conforming loan rate was had its largest in over a month, contributing to the first decline in activity in four weeks, the Mortgage Bankers Association said.

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But the 30-year fixed remained in a tight range as investors digest mixed economic signals, including on inflation.

The National Association of Realtors' index of contract signings to purchase previously owned homes dropped 2.7% to 76.5 last month, according to data released Thursday.

Investors are piling into longer-dated notes on bets that policy makers will succeed in taming inflation, an outcome that will deliver strong and stable returns on debt.

The markets had a muted reaction to the Federal Open Market Committee pause on raising short-term rates a week ago, Freddie Mac found.

But the Mortgage Bankers Association also raised the dollar volume that it predicts the purchase market will originate this year.