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Mortgage refinances surge 8%, as interest rates fall

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Homeowners are taking advantage of lower interest rates, rushing to refinance their mortgages before rates potentially turn higher again.

Total mortgage application volume increased 2.4% last week from the previous week and was up 15% from a year earlier, according to the Mortgage Bankers Association’s seasonally adjusted index.

Refinances drove the numbers, jumping 8% for the week to the highest pace in a month and 31% annually.

Refinance volume is highly…



Source cnbc.com

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