Mortgage refinance demand surges, as interest rates drop further

by anastasiakaufman-chime-me

Published Wed, Jul 2 20257:00 AM EDTUpdated Wed, Jul 2 20258:07 AM EDT

By: Diana Olick

A completed planned development is seen in Ashburn, Virginia on August 14, 2024. US consumer inflation eased slightly in July, according to US Labor Department data published on August 14, 2024,, its smallest 12-month increase since March 2021 and a positive sign for the Federal Reserve as it weighs cutting interest rates. The consumer price index (CPI) rose 2.9 percent last month from a year ago, the Labor Department said in a statement, while a measure that strips out volatile food and energy costs cooled

A completed planned development is seen in Ashburn, Virginia, on Aug. 14, 2024.Andrew Caballero-Reynolds | AFP | Getty Images

Mortgage rates fell last week to the lowest level since April, leading current homeowners to seek savings.

Applications to refinance a home loan rose 7% last week compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. Demand was 40% higher than the same week one year ago. LEARN MORE…

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Mortgage refinance demand surges, as interest rates drop further
Mortgage refinance demand surges, as interest rates drop further

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