More takers for those low mortgage rates
So these low-low mortgage rates are having an effect on Americans after all: Applications for refinance deals jumped 17 percent last week to the highest level in 15 months.
That's according to the Mortgage Bankers Association, which surveys lenders. In its previous survey, it noted that applications for loans -- refinance and purchase -- barely budged despite the lowest rates since it began its survey in 1990.
Last week's rates were slightly higher than the week before, according to the survey -- 4.6 percent for a 30-year fixed-rate product rather than 4.57 percent.
Homebuyers, however, are not applying in droves. Applications for loans to purchase homes dropped 3.4 percent from a week earlier.