Refinance News

Mortgage applications soar as refinances surge on a big rate drop – Fasti News

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Refinances, which are most rate-sensitive, led the surge, jumping a remarkable 47% week to week and 97% annually. 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.

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Weekly mortgage applications soar nearly 27% on a big rate drop june 12, 2019 admin real estate comments Off on Weekly mortgage applications soar nearly 27% on a big rate drop A real estate agent shows a home to a prospective buyer in Miami.

Refinances, which are most rate-sensitive, led the surge, jumping a remarkable. last week and took it – in a big way. Mortgage rates dropped to their lowest level in nearly two years, so total.

Mortgage applications soar as refinances surge on a big rate drop. U.S. stocks climbed on Monday, with the S&P 500 bouncing back from its biggest weekly drop since 2012, as companies including. partners and the 10-year Treasury yield used in figuring mortgage.

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.

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.

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