Real Estate

Mortgage rates at six-month low, and refinances shoot up


A real estate agent stands in the doorway as Giovani and Nicole Quiroz of Brooklyn, New York visit an open house in West Hempstead, New York.

Raychel Brightman | Newsday LLC | Newsday | Getty Images

The popular 30-year fixed mortgage rate fell back to the lowest level since February last week, and the 15-year fixed set a record low. That sent borrowers to their lenders, looking to save money on their monthly payments.

Applications to refinance a home loan jumped 9% last week from the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. They were still 10% lower than a year ago. The refinance share of mortgage activity increased to 67.2% of total…


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