South Dakota, Montana, Nebraska led the nation in the first quarter of 2024 in the share of mortgage applications that were for refinancing of homes, according to data made available to Newsweek by the Mortgage Bankers Association .Half of mortgage applications in South Dakota at the beginning of 2024 were from homeowners who looked to change the terms of their loans. Nebraska reported that 44.5 percent were for refinanced mortgages, while Nebraska had 42 percent, MBA data showed.
05 percent to 7.02 percent, sparking a huge jump in mortgage applications of nearly 20 percent from the previous week. The increase was helped substantially by the refinance component of the market, which rose by 28 percent and contributed a 35.2 percent share of mortgage loan applications for the week, according to MBA.'Lower rates earlier in the week meant a strong increase in refinance activity, particularly for borrowers, who jumped on the chance to lower their rates.