By Ivan Levingston | CNBC
Lower interest rates driven by a weak GDP reading for the second quarter boosted mortgage applications last week, a sharp reversal from the previous week.
Total mortgage application volume increased 7.1 percent on a seasonally adjusted basis last week from the previous week, when applications fell 3.5 percent, according to the Mortgage Bankers Association.
The drop in interest rates for the second week in a row also spurred a 10 percent increase in mortgage refinance activity from the previous week.
