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.

Borrowers and buyers awoke to a new normal in housing affordability last week, as mortgage rates dropped to the lowest level in more than a year and are now expected to stay low for a while. Mortgage applications jumped 8.9 percent last week from the previous week and 5.7 percent from a year earlier, according

 · Mortgage applications surge on refinances 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.

Mortgage applications increased for the second week as interest rates again ticked lower at well under 5 percent. The Mortgage Bankers Association said its Market Composite Index, a measure of mortgage application volume, increased 5.3 percent on a seasonally.

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 · Mortgage News Daily says mortgage rates surge Lower. Mortgage rates surged lower today, falling at the fastest single-day pace in more than a year. In order to see the average lender offer lower rates, you’d need to go back to October 2nd at least. For.

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While applications to refinance a home loan were 5% percent lower for the week. jumped in March as well. That sales surge may have been due to a sharp drop in mortgage rates. Rates have since edged.

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Weekly mortgage applications surge on lower rates 8:42 AM ET Wed, 27 March 2019 CNBC’s Diana Olick reports on newly released mortgage application data. Watch CNBC Live TV.

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Applications to refinance jumped 12 percent for the week as homeowners rushed to take advantage of attractive rates.

Mortgage rates were at their. quoting conventional 30yr fixed rates at 4.125% as opposed to the recently more prevalent 4.25%. For borrowers whose contract rate remained the same, closing costs.