Current borrowers and potential buyers are apparently watching every interest rate move, and reacting accordingly. Higher in rates over the last two weeks sent total mortgage applications into a slide, falling 10.1% last week, according to the Mortgage Bankers Association’s seasonally adjusted index. Volume was still 46% higher than a year ago, when interest rates were even higher and refinancing was incredibly slow. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($484,350 or less) increased to 4.02% from 4.01% last week, with points increasing to 0.38 from 0.37 ... (full story)