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Mortgage applications soar as refinances surge on a big rate drop Mortgage applications surged 26.8% in just one week. Volume was 41% higher than the same week one year ago.
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Mortgage rates were somewhat higher today as politicians. one of their nominees is a vocal proponent of a Brexit-style departure for Italy. Yesterday’s surge toward lower rates occurred because the.
Florida’s Professional Bank CEO Appointed To Atlanta Fed Loaned Trump Millions In 2018 Mortgage applications soar as refinances surge on a big rate drop Mortgage applications soar as refinances surge on a big rate drop mortgage rates dropped to their lowest level in nearly two years, so total mortgage applications surged 26.8% in just one.
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.
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 by an increase.
Applications for new mortgages surged in the past week due to a big drop in interest rates. Diana Olick has more for us.. Mortgage applications surge as rates drop. Rent, Refinance, Repeat.
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