Mortgage Madness: Rates Drop, Demand Soars!

Mortgage demand just SPIKED 20% in just one week! 📈 Why the sudden surge? Volatility in the markets has sent mortgage rates plummeting to 6.61%—the lowest since October! This has led to a massive 35% jump in refinance applications, with a staggering 93% increase compared to last year. Homebuyers are also rushing to take advantage, pushing purchase applications up by 9%. The biggest winners? Borrowers with large loans chasing those savings, with an average refinance size nearing $400K! 💸 And guess what? Adjustable-rate mortgages are back, making up 8.6% of all applications! But hold on—rates are climbing again this week! 📊 Will inflation data flip the market next? Stay tuned!

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