After several weeks of volatility, mortgage rates calmed down, and that offered little incentive for homeowners or buyers to make a move.

Total mortgage application volume was essentially flat last week compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. Volume fell 0.1% for the week but was 41% higher than the same week one year ago, thanks to a far more robust refinance market.

Applications to refinance a home loan decreased 1% for the week, but were 93% higher than the same week one year ago, when interest rates were considerably higher.

The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($484,350 or less) increased to 4.07% from 4.06%, with points increasing to 0.36

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