Mortgage Applications Surge on Lower Rates

Mortgage applications jumped 8.9 percent last week from the previous week and 5.7 percent from a year earlier, according to the Mortgage Bankers Association’s seasonally adjusted report. Both refinance and purchase applications surged, but the more rate-sensitive refis were the real leader.

Mortgage rates surged lower again today, continuing an ongoing push into lower all-time lows. Although bond markets in general moved lower in rate today, the overriding factor leading mortgage rates.

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The economy is stronger and rates are lower, but we’re seeing fewer home sales than last year,” McBride said. Mortgage rates this week Four weeks ago, the 30-year fixed rate was 3.94 percent.

Mortgage Applications Surge on Lower Rates – According to the Mortgage Bankers Association, home buyers and homeowners are taking advantage of some of the lowest interest rates in a year. Mortgage applications for refinances and home purchases jumped 9.9 percent higher recently on a seasonally adjusted basis. The 30-year fixed-rate mortgage averaged 4.03 percent, dropping from 4.06 percent the MBA reports.

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5 hours ago. Meanwhile, mortgage applications fall for the third straight week.. This week's rate is 0.57 percentage points lower than the 52-week average.

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Both refinance and purchase applications surged, but the more rate-sensitive refis were the real leader. Those applications jumped 12 percent for the week and were 8.5 percent higher than a year ago.

Mortgage applications surge as borrowers take advantage of lower rates January 22, 2019 the_admin 0 Comments. The drop in mortgage rates over the past two months has given new life to the refinance market. Still, it is also important to note that a jump in mortgage rates last January caused.

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Mortgage Applications, Refinances Surge After Interest Rate Drop. moderation in home prices and a shift to building lower-priced homes.".

Mortgage Applications Surge on Lower Rates. By BB Staff. Mortgage activity for the week of Feb. 18 rose sharply from a week earlier as rates fell back, according to data from the Mortgage Bankers.

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according to the mortgage bankers association. applications to refinance, which saw a brief surge on lower rates in October and then a precipitous drop when rates rose again this month, fell 2 percent.