Mortgage business is booming thanks to low rates - KWWL - Eastern Iowa Breaking News, Weather, Closings

Mortgage business is booming thanks to low rates

Posted: Updated:
(NBC) -

Mortgage applications rose again last week as mortgage rates continue to fall.

According to the Mortgage Bankers Association, applications for new homes and refinancing are up over 14 percent. 

It's the second straight week mortgage activity has risen to a 17-month high. 

Interest rates for a 30-year mortgage averaged 3.8 percent last week, the lowest level since May 2013.

Powered by Frankly