Mortgage rates sink to the lowest level in a month, sparking more refinance demand

Mortgage rates sink to the lowest level in a month, sparking more refinance demand

Mortgage rates dropped again last week, sparking a small jump in refinancing, but potential buyers were not impressed.

Roundup: Mortgage rates / USPS / Japan investing in US

Refinance demand surges: Mortgage rates fell to 6.17%, the lowest level in a month, driving a surge in refinancing activity even as homebuying demand slipped. Refinance applications jumped 7% week over week and soared 132% year over year, while purchase applications declined amid limited supply and economic uncertainty. Read more from CNBC.  Historic imagery lost: Thousands of New Deal-era murals once turned America’s post offices into public ar…

United States MBA Mortgage Applications climbed from previous -0.3% to 2.8% in February 13

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Mortgage applications increase, fueled by refinance demand

Mortgage applications rose 2.8% last week as lower borrowing costs spurred a pickup in refinancing activity, according to the Mortgage Bankers Association (MBA)’s weekly mortgage applications survey for the week ending Feb. 13. On an unadjusted basis, the index rose 5% compared with the previous week. Refinance applications led the gain, climbing 7% from the previous week and surging 132% from the same week a year ago. But the seasonally adjuste…