New York

Refi Applications Soar Amid Low Rates 

Mortgage rates now aren’t as low as they were earlier in the week, or even where they were to end last week, but the recent press over historically low mortgage rates has driven a veritable refi boom for participants in the primary mortgage markets. The Mortgage Bankers Association said Wednesday morning that its weekly survey of application activity surged a seasonally adjusted 48 percent last week compared with the previous week, with refinancing applications driving 83.2 percent of all applications.