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Mortgage Rates Trigger Refinance Surge
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Mortgage rates plummet, leading to a 19% surge in refinance applications. Despite this, home prices remain high and housing supply remains scarce. Home purchases increased slightly, but were still 18% lower than the previous year.
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How might the surge in refinance applications impact the overall housing market?
What factors contribute to the persistence of high home prices and tight housing supply?
What strategies can homeowners adopt to maximize savings from lower mortgage rates?
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