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Mortgage Applications Jump on Lower Rates

Mortgage News > Mortgage Applications Jump on Lower Rates
Date: 06/06/2018    Mortgage Applications Jump on Lower Rates

 In response to lower mortgage rates, the number of home loan applications rose 4.1 percent in the latest week, according to the Mortgage Bankers Association, although application volume was still down 2% from last year at this time.

Interest rates fell to an average of 4.75% with 0.46 point for a 30-year fixed rate mortgage, down from 4.84% with 0.47 point last week. After months of rising rates, buyers and refinancers pounced on the opportunity to save on their mortgages with slightly lower rates.

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