Refinance Requests Jump 10%

Refinance Mortgage

As mortgage interest rates fell to their lowest level since August, homeowners flocked to lenders to refinance, according to the Mortgage Bankers Association. The MBA’s weekly mortgage application volume index rose 5.2% in the latest week, with refinance requests alone jumping 10% from the previous week. The number of refinance applications was up 163% from a year ago and the refinance share of mortgage activity rose to 60.4% of all applications. Home purchase mortgage requests fell 1% during the same time, but they were still 10% above year-ago levels.