Mortgage Refinance Demand Soars as Rates Hit 4-Month Low
TL;DR
Mortgage refinance demand surged to a two-year high as interest rates dropped to their lowest level since March, with applications rising 15% last week. However, home purchase applications fell 3%, as buyers anticipate further rate drops and face a tight, expensive market.
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- Refinancing Volume Highest in Nearly Two Years Mortgage News Daily
- Mortgage refinance falls again, despite homeowners sitting on $17T in equity Fox Business
- Mortgage rates fall to the lowest level in four months, as refinances jump 15% MarketWatch
- US Economy News Today: Mortgage Applications Jump as Homeowners Chase Refinancing on Rate Dip Investopedia
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