Reported 12 days ago
Mortgage applications rose to their highest levels since July 2022, primarily due to a 20% increase in refinancing applications as homeowners sought to take advantage of falling rates. According to the Mortgage Bankers Association, total applications for refinancing or home purchases increased by 11% week-over-week, with refinancing constituting nearly 56% of all applications. The average 30-year fixed mortgage rate fell to 6.09%, down over a percentage point from the previous year, spurring renewed activity in the mortgage market.
Source: YAHOO