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Demand for mortgage refinances surges as rates drop: Here’s how to get yours By Kelsey Ramirez As rates drop once again, more homeowners are rushing to refinance their mortgages. (iStock) As mortgage rates drop, the demand for refinances is surging. Total mortgage refinance applications increased 20% over the previous week, according to the Mortgage rates dropped for the third consecutive week last week to 2.88% for a 30-year fixed-rate mortgage, according to the latest survey from Freddie Mac. These low rates have relieved some tensions in the homebuying market; as competition heats up, prospective buyers have been forced into bidding wars and are offering well above asking price. But, this has been the most beneficial to homeowners seeking to refinance their mortgage.

Freddie macJoel kanWeekly mortgage applicationsFederal reserveMortgage bankers associationWeekly mortgage applications surveyMarket compositeBlack knightஃப்ரெடி மேக்ஜோயல் கான்வாராந்திர அடமானம் பயன்பாடுகள்கூட்டாட்சியின் இருப்புஅடமானம் வங்கியாளர்கள் சங்கம்வாராந்திர அடமானம் பயன்பாடுகள் கணக்கெடுப்புசந்தை கலப்புகருப்பு நைட்