Mortgage interest rates
The benchmark 30-year remained flat at 3.96 percent, giving borrowers another chance to lock in a sub-4 percent rate.
Purchase applications remain strong, refinances wane
Mortgage applications ticked up by 0.6 percent from last week, according to the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending October 25, 2019.
Refinance activity fell again this week, while purchase activity picked up, amid low rates that have remained below 4 percent since July. Refinance applications dropped 5 basis points from 58.5 percent last week to 58.0 percent of total applications this week.