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Mortgage Applications Surge on Lower Rates

Mortgage rates plunge to their lowest levels in 33 months. yet translated into similarly lower mortgage rates,” said Michael Becker, branch manager of. Meanwhile, falling rates caused mortgage applications to pick up.. “The lowest mortgage rates in well over two years led to a surge in refinancing, with.

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Other mortgage rates in our survey were unchanged or slightly higher than in the previous week.” Here’s a more detailed breakdown of this week’s mortgage application data: As a reporter for.

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 · Mortgage applications are soaring-a direct result of last week’s significant drop in interest rates. According to the Mortgage Bankers Association, applications for mortgage loans.

Fratantoni points out that although "lower mortgage rates did not pull more homebuyers into the market [last week]," applications for purchases are nonetheless 7% ahead of last year’s pace. The refinance share of mortgage activity increased to 53.9% of total applications, up from 50.5% the previous week.

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Mortgage applications surge as rates continue to drop. with conforming loan balances ($484,350 or less) decreased to 4.12% from 4.23%,

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Mortgage Applications Surge on Lower Rates – According to the Mortgage Bankers Association, home buyers and homeowners are taking advantage of some of the lowest interest rates in a year. Mortgage applications for refinances and home purchases jumped 9.9 percent higher recently on a seasonally adjusted basis. The 30-year fixed-rate mortgage averaged 4.03 percent, dropping from 4.06 percent the MBA reports.

Mortgage applications surge on low interest rates mortgage apps skyrocket on lower interest rates Trey Garrison was a Senior Financial Reporter for

It was not immediately clear how many employees the bank will add. The about-face comes as banks brace for a surge in.

2 days ago.. this week, and that has led to a surge in mortgage applications.. Low interest rates generally help to boost the housing market, but the cost.

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.

The adjustable-rate mortgage share of activity increased to 6.0% of total applications. The post Mortgage Applications Continue to Surge on Lower Rates appeared first on MortgageOrb.