Mortgage applications to refinance a home loan jumped 6% last week from the previous week.
Mortgage applications to refinance a home jumped 6% last week as interest rates hit their lowest level since September.
Mortgage interest rates dropped again last week, and while that did little to bolster demand from homebuyers, it did send homeowners looking for savings on their monthly payments. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances decreased to 6.34% from 6.42%, with points decreasing to 0.59 from 0.64 for loans with a 20% down payment.Sign up for NECN newsletters.
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