Mortgage refinance demand jumps 19% after rates hit lowest level since July
PUBLISHED WED, DEC 13 20237:00 AM ESTUPDATED 46 MIN AGO
By: Diana Olick
Homeowners looking to refinance are finding savings after mortgage rates dropped again last week.
The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($726,200 or less) decreased to 7.07% from 7.17%, with points falling to 0.59 from 0.60 (including the origination fee) for loans with a 20% down payment, according to the Mortgage Bankers Association. That was the lowest level since July.
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