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Thursday March 25, 12:31
U.S. mortgage refinancing hits 8-month high

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U.S. homeowners seeking to refinance their mortgage rose to the highest level in eight months last week, the Mortgage Bankers Association of America said Wednesday. The bankers' mortgage purchase index fell 0.8 percent while the refinance index increased 0.1 percent. The volume of refinancing is the highest since July. Refinancings increased to 63.1 percent of all applications. The average rate on a fixed 30-year mortgage rose one basis point to 5.38 percent from 5.37 percent.
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