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 decline in rates helped the refinance index reach its highest level in eight weeks, driven by a 4% increase in conventional refinances,” said Joel Kan, MBA’s associate vice president of economic and industry forecasting. “Additionally, refinance loan balances increased details ⇒

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