Weekly mortgage demand surges 20% higher, after interest rates drop to the lowest since last year

By: A sharp drop in mortgage interest rates finally lit a fire under loan demand. Both current homeowners and potential homebuyers jumped back into the market, after a lackluster showing for this year so far.Total mortgage application volume jumped 20.4% last week compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted…

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