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Refinances Hit 7-year High As Mortgage Rates Stay Down

Mortgage rates have edged higher but remain near historic lows, driving a surge in refinancing activity. So reports CNBC.

According to Freddie Mac, the average for the 30-year fixed-rate mortgage was 3.47% for the week that ended February 13, versus 3.45% a week earlier. That’s still the second-lowest since October 2016.

According to the Mortgage Bankers Association, weekly refinance activity climbed to its best since June 2013.

Read the full article from CNBC.

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