The volume of mortgage applications surged by 27% last week, the biggest weekly rise in more than four years, according to a survey released Wednesday by the Mortgage Bankers Association.
Refinances were up 47% from the previous week, according to the Mortgage Bankers Association. Purchase applications were up 10% over the span, and many expect a continued boost in home sales as a result. Rates for 30-year fixed mortgages fell below 4% in recent weeks for their first time since 2017, and were most recently at 3.82%, according to a weekly average maintained by the government mortgage giant Freddie Mac . Mortgage rates typically track the yield on the benchmark 10-year Treasury note, which has flagged recently, as investors reconsider the current U.S. growth outlook.
About a year later, they went to refinance at the suggestion of Ms. Murray’s mother, a real-estate agent. Having built up 20% equity in the house, they avoided insurance and got a rate of 3.99% from their lender, Sanborn Mortgage Corp.
BenEisen How about that you can pay for it
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