Tagged : Mortgage Applications Soar as Consumers Snap Up Low Rates

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interest_alexandrgordeev_450realtor.com - The moribund mortgage market suddenly sprang back to life last week after a drop in interest rates to levels not seen in almost two years sent borrowers rushing to lock in cheaper loans.

Mortgage applications rose a seasonally adjusted 49% in the week ended Jan. 9 from the previous week and 30% from a year ago, according to data from the Mortgage Bankers Association. Application volume touched its highest level since August 2013, with most of the increase driven by borrowers seeking to refinance.

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