Mortgage Applications Surge, Rates Dip
This is a news story, published by CNBC, that relates primarily to the Mortgage Bankers Association's news.
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•Mortgage refinancing surges 35% in one week, as interest rates hit lowest level in over a year
77% Informative
Applications to refinance a home loan surged 35% last week , according to the Mortgage Bankers Association's index.
The refinance share of mortgage activity increased to 48.6% of total applications from 41.7% in the previous week .
Applications for a mortgage to purchase a home rose just 3% for the week and were still 8% lower than the same week one year ago .
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