Mortgage applications soar as refinances surge on a big rate drop

Mortgage applications soar as refinances surge on a big rate drop. Consumers saw an opportunity last week and took it – in a big way. Mortgage rates dropped to their lowest level in nearly two years, so total mortgage applications surged 26.8% in just one week, according to the Mortgage Bankers Association’s seasonally adjusted index.

According to the MBA, mortgage applications were up 4% from the previous year, the rebound in applications being driven by falling rates and a spike in refinance activity, with the refinance index.

Refinances, which are most rate-sensitive, led the surge, jumping a remarkable 47% week to week and 97% annually. That pushed the refinance share of total mortgage application volume to 49.8% from 42.2%. It is nothing short of a refinancing boom, with applications now up 63% in the four weeks as rates have fallen 28 basis points over that time.

Mortgage applications soar as refinances surge on a big rate drop Mortgage applications surged 26.8% in just one week. Volume was 41% higher than the same week one year ago.

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Refinances, which are most rate-sensitive, led the surge, jumping a remarkable 47% week to week and 97% annually. That pushed the refinance share of total mortgage application volume to 49.8% from.

Mortgage applications surge on refinances as as rates hit 21-month low As mortgage rates fell to the lowest level since September 2017, mortgage applications surged 26.8% last week, led by.»» Category: top Source: usatoday jun 12th, 2019

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Refinances, which are most rate-sensitive, led the surge, jumping a remarkable 47% week to week and 97% annually. That pushed the refinance share of total mortgage application volume to 49.8% from 42.2%. It is nothing short of a refinancing boom, with applications now up 63% in the four weeks as rates have fallen 28 basis points over that time.

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Refinances, which are most rate-sensitive, led the surge, jumping a remarkable 47% week to week and 97% annually. That pushed the refinance share of total mortgage application volume to 49.8% from 42.2%. It is nothing short of a refinancing boom, with applications now up 63% in the four weeks as rates have fallen 28 basis points over that time.

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South Floridians are rushing to refinance their mortgages as interest rates spiral to historic lows – below 3 percent in some cases. Four out of five mortgage applications at Miramar. interest.

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