Rates are dropping and applications are soaring!

Mortgage rates took a dip, and the result? A whopping 10.4% surge in applications last week! The average interest rate for 30-year fixed-rate mortgages is now below 7%!

This is great and not just for buyers—current homeowners are seizing the chance too! Refinance applications shot up by 11%, offering savings to those looking to trim their mortgage costs.

Bottom line: Rates are in your favor, making homeownership dreams a reality. Don’t let misconceptions hold you back!