Markets

US mortgage rates slip to a record low 3.03% for 30-year loans

The popular 30-year fixed rate mortgage averaged 3.03%, the lowest in the series dating back to 1971, according to a Thursday report by Freddie Mac. It’s the sixth time US mortgage rates have fallen to a record low since March, when the coronavirus pandemic led to a market meltdown. Still, […]
US mortgage rates slip to a record low 3.03% for 30-year loans
Markets

Mortgage refinances surge 79%, most since financial crisis, as people rush to capitalise on low interest rates

Mortgage refinancing applications spiked 79% from the previous week, according to data released Wednesday from the Mortgage Bankers Association. It’s the largest weekly increase in refinancing applications since November 2008. The MBA now expects refinance originations to double from earlier projections and jump nearly 37% to about $US1.23 trillion in […]
Mortgage refinances surge 79%, most since financial crisis, as people rush to capitalise on low interest rates