Author: Daniel snow

A completed planned development is seen in Ashburn, Virginia, on Aug. 14, 2024.Andrew Caballero-Reynolds | AFP | Getty ImagesMortgage rates fell last week to the lowest level since April, leading current homeowners to seek savings.Applications to refinance a home loan rose 7% last week compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. Demand was 40% higher than the same week one year ago.The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances, $806,500 or less, decreased to 6.79% from 6.88%, with points decreasing to 0.62 from 0.63, including the origination fee,…

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