Refinances Surge After Interest Rate Drop, Mortgage Applications

Posted by Staff Reporter on Jun 17, 2019 04:40 PM EDT
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Refinances Surge After Interest Rate Drop, Mortgage Applicationsmore big
(Photo : pixabay)

Mortgage applications are soaring-a direct result of last week's significant drop in interest rates. According to the Mortgage Bankers Association, applications for mortgage loans are up more than 26% compared to this time last week. The jump comes after rates dipped to 3.82% last week-their lowest point in almost two years.

Rates remained low this week, too, holding steady at 3.82% as of yesterday, according to Freddie Mac.

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