Mortgage activity is soaring as interest rates sink to new lows, according to a weekly Mortgage Bankers Association survey.
The average 30-year fixed mortgage dropped to a record low of 3.36 percent, according to Freddie Mac, while the 15-year rate hit 2.69 percent.
The all-time low rates drove refinancing activity to a three-year high. Refinance volume increased 20 percent from the previous week on a seasonally adjusted basis, while overall mortgage applications rose 16.6 percent.
Have you considered refinancing? As rates remain low, now is the time to contact a professional about your options.