Record-low mort­gages rates trig­ger in­ter­est in re­fi­nanc­ing

Austin American-Statesman - - BUSINESS & PERSONAL FINANCE -

Mort­gage bro­kers are re­port­ing ris­ing in­ter­est in home re­fi­nanc­ings as rates on 30-year fixed loans have hit record lows in four of the past five weeks. This week, the av­er­age rate fell to 4.56 per­cent, the low­est since mort­gage com­pany Fred­die Mac be­gan track­ing rates in 1971. Weekly ap­pli­ca­tions to re­fi­nance home loans nearly dou­bled in July from April, the Mort­gage Bankers As­so­ci­a­tion said.

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