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“Mortgage refinance boom takes hold, as weekly demand surges 20%”

“Applications to refinance a home loan surged 20% last week compared with the previous week.

This as the average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($766,550 or less) decreased to 6.13% from 6.15%

The refinance share of applications rose to 55.7%.

Mortgage applications to purchase a home rose just 1% for the week and were 2% higher than the same week one year ago…”

https://www.cnbc.com/2024/09/25/mortgage-refinance-boom-takes-hold-as-weekly-demand-surges-20percent.html

These headlines are major clickbait. Mortgage boom yea right. 1 week is not a “boom.”

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