Mortgage rates hit an almost 3-year low last week, and it seems homeowners are finally taking full advantage
According to new data from the Mortgage Bankers Association, refinances have doubled since late July and are up 37% in just the last week. They’re now at their highest point since mid-2016.
Trade wars and economic uncertainty are the most likely culprits, sending Treasury yields and interest rates down with them, explains Joel Kan, associated vice president of economic and industry forecasting for the Mortgage Bankers Association.
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