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Mortgage Applications Jump 6.8%

Mortgage News > Mortgage Applications Jump 6.8%
Date: 08/12/2020    Mortgage Applications Jump 6.8%

As mortgage interest rates continued to fall, demand for home loans jumped in the latest week, according to the Mortgage Bankers Association. Total new mortgage applications rose 6.8%, led by a 9% increase in refinance requests and tempered by a 2% increase in home purchase applications. During the same time, the average rate on a 30-year fixed rate mortgage fell to 3.06% with an average 0.33 point, down from 3.14% the week before.

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