What’s behind the explosion of mortgage refinancing?

mortgage refinancing

mortgage refinancingBy Clare Trapasso | realtor.com

Mortgage applications are up, up, up, as homeowners try to save some of their hard-earned cash through refinancing their loans.

The number of mortgage loan applications surged 8.2% last week over the first week of the month, as interest rates fell on 30-year fixed-rate mortgages to lows between 3.74% and 3.83%, according to the Mortgage Bankers Association.

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