According to The Mortgage Bankers Association’s Weekly Applications Survey, the average contract interest rate for 30-year fixed-rate mortgages fell to 4.44 percent last week from 4.47 percent the week before. Despite rates near all-time lows, The Market Composite Index, which measures total mortgage loan application, was down 1.4 percent. Margaret Kelly, chief executive of RE/MAX, said she doesn’t believe the housing market will suffer another massive dip but feels it can’t fully recover without improvement in the jobs market. More here and here.