Mortgage applications soar as refinances surge on a big rate drop

Mortgage applications soar as refinances surge on a big rate drop

The volume of refinance applications is at its lowest level. a loan officer for Waterstone Mortgage in Cincinnati. "Sometime soon, momentum will slow and rates will drop. That could be today,

Weekly mortgage applications soar nearly 27% on a big rate drop. CNBC – Diana Olick. Consumers saw an opportunity last week and took it – in a big way. Mortgage rates dropped to their lowest level in nearly two years, so total mortgage.

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Refinances, which are most rate-sensitive, led the surge, jumping a remarkable 47% week to week and 97% annually. Consumers saw an opportunity last week and took it – in a big way. Mortgage rates dropped to their lowest level in nearly two years, so total mortgage applications surged 26.8% in just one week, according to the Mortgage Bankers Association’s seasonally adjusted index.

Weekly Mortgage Applications Soar Nearly 27 On A Big Rate Drop and related news – Financial New Index – latest business-market news from around the web at one place. home;. mortgage applications soar as refinances surge on a big rate drop.

– Mortgage applications soar as refinances surge on a big rate drop; Business. That pushed the refinance share of total mortgage application volume to 49.8% from 42.2%. It is nothing short of a refinancing boom, with applications now up 63% in the four weeks as rates have fallen 28 basis points.

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Refinances, which are most rate-sensitive, led the surge, jumping a remarkable 47% week to week and 97% annually. That pushed the refinance share of total mortgage application volume to 49.8% from 42.2%. It is nothing short of a refinancing boom, with applications now up 63% in the four weeks as rates have fallen 28 basis points over that time.

MBA Report: Refinances Surge After Rates Dropped October 2, 2017 By Chris Hamler A surge in refinancescaused mortgage applications volume to slightly tick up in the previous week, thanks to a drop in interest rates driven by significant market-pressuring events.

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