Mortgage Rates, Refinancing | featured news

Two of the nation's largest banks released third-quarter results that suggest the U.S. housing market, a key factor in the nation's economic performance, is bouncing back as mortgage rates hit record lows and home refinancings surge.

Average U.S. rates for 30-year and 15-year fixed mortgages fell to fresh record lows this week, making home-buying and refinancing more affordable than ever for those who can qualify.

Depressed home values, poor credit and high debt shut millions out of the lowest mortgage rates.

U.S. mortgage applications jumped last week as record low interest rates spurred a surge in demand for home refinancing loans, data from an industry group showed on Wednesday.

Mortgage applications jumped last week, as low interest rates fueled refinancing activity.

Interest rates are falling, but potential borrowers face higher costs.