Mortgage Rates Fall Below 3%
Have you been keeping your ears open to hear about lower mortgage rates? After weeks of decreases, mortgage applications rose 2.1% for the week ending May 7, 2021, according to the most recent report from the Mortgage Bankers Association.
Aiding the jump in mortgage applications was another sub-3% week of mortgage rates, which fell officially to 2.96%. The first week of May was strong for the purchase market, with applications up 13% from a year ago. Read more in HousingWire.com.