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Refinance Requests Jump 300% Over Last Year

Mortgage News > Refinance Requests Jump 300% Over Last Year
Date: 11/27/2019    Refinance Requests Jump 300% Over Last Year

As long-term mortgage interest rates dipped farther below 4% last week, the number of applications for refinance loans rose 4% for the week and 314% compared with the previous year. Lower rates did not entice more people to apply for home purchase loans, however. Those mortgage requests dropped 1% over the latest week. They were still up 55% over the year before though. During this past week, the average rate on a 30-year fixed rate mortgage slipped to 3.97% with 0.3 point, down from 3.99% with 0.33 point.

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