Mortgage refinance demand spikes nearly 60%, as interest rates drop sharply

by anastasiakaufman-chime-me

Published Wed, Sep 17 20257:00 AM EDTUpdated 3 Hours Ago

By: Diana Olick

SAN RAFAEL, CALIFORNIA - AUGUST 07: A sign is posted in front of a home for sale on August 07, 2024 in San Rafael, California. According to a report by Zillow, 30-year fixed mortgage rates have dropped 31 basis points to 6.06% while the 30-year fixed refinance rate has dropped 1.15% to 5.98%. (Photo by Justin Sullivan/Getty Images)
A sign is posted in front of a home for sale in San Rafael, California, on Aug. 7, 2024.Justin Sullivan | Getty Images

Mortgage rates last week dropped to the lowest level since October of last year. That caused a massive run on refinances, as consumers seek more savings in an uncertain economy. LEARN MORE…

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