More analysis of interest rates leading to a refinancing resurgence.
Falling mortgage rates are turning the numbers around once again – at least when it comes to refinances.
Total mortgage application volume rose 5.6 percent
on a seasonally adjusted basis last week from one week earlier,
according to the Mortgage Bankers Association (MBA). This data was collected even before interest rates crossed below the psychologically significant 4 percent mark Tuesday.
The surge was all in refinance applications, which jumped 11 percent
week-to-week, but which are still off 27 percent from one year ago.
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