Demand for mortgage refinances jumps 14% as interest rates fall to lowest since August –
Houses in Hercules, California, USA. Bloomberg | Bloomberg | Getty Images After rising over 8% in October, mortgage rates are falling back to 7%, giving the refinancing market a boost. Last week, the average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($726,200 or less) fell from 7.37% to 7.17%, with points … [Read more…]