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Mortgage Applications Jump as Rates Plummet

Mortgage News > Mortgage Applications Jump as Rates Plummet
Date: 11/28/2018    Mortgage Applications Jump as Rates Plummet

Borrowers flocked to the mortgage table last week as interest rates plunged, according to the Mortgage Bankers Association. The MBA’s Home Purchase Index jumped up 12% from the previous week and 1.7% from a year ago and the average purchase price grew. The total number of mortgage applications, including refinance requests, grew 5.5% in the latest week. During the same time, the average rate on a 30-year fixed-rate mortgage fell to 5.12%.

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