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From Diana Olick: The biggest one-week rate drop in a decade unleashed a run on refinances last week. “There was a tremendous surge in overall applications activity, as mortgage rates fell for the.

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Consumers saw an opportunity last week and took it – in a big way. Mortgage rates dropped to their lowest level in nearly two years, so total mortgage applications. forecasting. Refinances, which.

Refinances, which are most rate-sensitive, led the surge, jumping a remarkable. last week and took it – in a big way. Mortgage rates dropped to their lowest level in nearly two years, so total.

Consumers saw an opportunity last week and took it – in a big way. Mortgage rates dropped to their lowest level in nearly two years, so total mortgage applications. forecasting. Refinances, which.

Refinances, which are most rate-sensitive, led the surge, jumping a remarkable 47% week to week and 97% annually. That pushed the refinance share of total mortgage application volume to 49.8% from 42.2%. It is nothing short of a refinancing boom, with applications now up 63% in the four weeks as rates have fallen 28 basis points over that time.

Mortgage rates continue to drop Mortgage applications soar as refinances surge on a big. Mortgage rates dropped to their lowest level in nearly two years, so mortgage applications surged 26.8% in just one week, according to the Mortgage bankers association. volume was 41% higher than the same week one year ago.

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NEW YORK (CNNMoney.com) — Near record low mortgage rates sent mortgage applications shooting higher last week, especially for refinances. point drop to what was then the lowest level in the.

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The global financial crisis started in the U.S. housing market. When U.S. mortgage applications soared 32% in March, lost in the shuffle was that more than 78% of the loans were refinances, as.

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