“Mortgage refinancing surges 35% in one week, as interest rates hit lowest level in over a year”
August 20, 2024
“The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($766,550 or less) fell slightly to 6.54% from 6.55%.
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…”