More Record Low Mortgage Rates Cause Home Demand to Jump

Mortgage interest rates have set record lows more than a dozen times this year, and last week there was yet another. That caused mortgage application volume to increase 3.9% compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. Home buyers are also getting added incentive from today’s rates, despite sharp increases in home prices. Applications to purchase a home rose 4% for the week and were 19% higher than a year ago. 

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