Applications for home loans rose last week as consumers raced to refinance at the lowest rates in decades.
The Mortgage Bankers Associations said Wednesday that overall applications increased nearly 7 percent from a week earlier. While they have been increasing in recent weeks, they remain below early 2009 levels.
Applications to refinance home loans were up 9 percent to the highest level since May 2009. But new mortgages taken out to purchase homes fell 2 percent.
Click Here To Read: Mortgage Applications Rise 7 Points As Rates Fall...
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