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Refinancing High on Last Week’s Lower Rates

Mortgage News > Refinancing High on Last Week’s Lower Rates
Date: 02/12/2020    Refinancing High on Last Week’s Lower Rates

Mortgage refinance applications shot up this week after interest rates dropped again, according to the Mortgage Bankers Association. Refinance demand jumped 5% for the week and an astounding 207% from the previous year. Refinance applications made up 65.5% of all mortgage requests, up from 64.5% the week before. Total mortgage application volume only increased 1.1% for the week though, as home purchase applications fell 6%.

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