U.S. home refinancing activity hits
three-year high: MBA
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[August 21, 2019]
NEW YORK (Reuters) - U.S. homeowners filed
the most applications to refinance their current mortgages in over three
years as 30-year borrowing costs slipped to their lowest levels since
late 2016, the Mortgage Bankers Association said on Wednesday. |
A home is seen in the Penn Estates development where most of the
homeowners are underwater on their mortgages in East Straudsburg,
Pennsylvania, U.S., June 20, 2018. REUTERS/Mike Segar |
The
Washington-based group's seasonally adjusted index on mortgage
refinancing activity edged up 0.4% to 2,754.7 in the week ended
Aug. 16, which was its highest since July 2016.
Interest rates on 30-year, fixed-rate mortgages averaged 3.90%,
down 3 basis points from the prior week. This was their lowest
reading since the week of Nov. 4, 2016.
(Reporting by Richard Leong)
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