The Freddie Mac 30-year average came in at 3.45% last week, the lowest level in almost 3.5 years and just 14 BPS above all-time lows.

House Democrats rebuked Kathy Kraninger, the head of the Consumer Financial Protection Bureau, during a committee hearing in which she declined to say whether the agency should exist. Republicans, meanwhile, applauded her gentler regulatory approach. So reports Roll Call.

Refinance applications climbed by 15% in the week that ended January 31, 183% higher than a year ago. So reports CNBC.