Refinance demand is 81% higher than it was a year ago, thanks to falling mortgage rates

US Homeowners Rush to Refinance as Interest Rates Continue Falling: MBA

Applications for mortgage refinancing have risen from a year ago as declining interest rates allow homeowners to lower their monthly payments, according to new Mortgage Bankers Association (MBA) data released on Oct. 22. Mortgage loan applications slipped 0.3 percent in the week ended Oct. 17, marking a fourth consecutive weekly decline, the MBA’s latest Weekly Mortgage Applications Survey showed. While new purchase activity has cooled over the …

Refinance demand is 81% higher than it was a year ago, thanks to falling mortgage rates

Sliding mortgage rates are pushing more current borrowers to refinance and also juicing demand for adjustable-rate loans.

Mortgage Application Activity Declines for Fourth Straight Week

The Refinance Index increased by 4% and was 81% higher than the same week one year ago. Continue Reading Mortgage Application Activity Declines for Fourth Straight Week The post Mortgage Application Activity Declines for Fourth Straight Week appeared first on Weekly Real Estate News.