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Mortgage Applications Jump 7%

Mortgage News > Mortgage Applications Jump 7%
Date: 01/29/2020    Mortgage Applications Jump 7%

As mortgage interest rates fell to 3-month low last week, applications for home loans surged 7.2%, according to the Mortgage Bankers Association. That jump was led by an 8% increase in refinance requests; refinance application volume is also up 146% from a year ago. Home purchase applications rose 5% and were up 17% from the previous year. At the same time, the average rate on a 30-year fixed-rate loan sank to 3.81% with 0.28 points, down from 3.87% the week before and the lowest rate since November.

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