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Igniting a Refinance Surge Ahead of Spring Housing Season
The average rate on a 30-year fixed loan fell to 5.99% this week, matching its lowest level since 2022. A year ago, borrowers faced rates closer to 6.9%, underscoring how sharply financing costs have eased in recent months.
The pullback is already reigniting refinancing activity. Applications to refinance a home loan have surged roughly 130% compared with the same period last year, data from the Mortgage Bankers Association show. Many homeowners who were sidelined by last year’s…
