“Mortgage refinance demand jumps 19% after rates hit lowest level since July”
December 19, 2023
“The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($726,200 or less) decreased to 7.07% from 7.17%, with points falling to 0.59 from 0.60 (including the origination fee) for loans with a 20% down payment, according to the Mortgage Bankers Association. That was the lowest level since July…
As a result, applications to refinance a home loan increased 19% last week from the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. Refinance demand was 27% higher than the same week one year ago…”
https://www.cnbc.com/2023/12/13/mortgage-refinance-demand-jumps-after-rates-drop.html