Loan demand spikes; buyers jump on rates

Screen Shot 2016-01-29 at 10.03.56 AMRealtorMag

Mortgage rates fell further last week and home buyers and home refinancers quickly rushed to take advantage. Total mortgage applications — for home purchases and refinances — rose 8.8 percent on a seasonally adjusted basis last week, the Mortgage Bankers Association reports.

“Borrowers are clearly seeing the rate drop as perhaps a last opportunity to seize on historically low rates,” CNBC reports.

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