Demand for loans to buy homes is now 8% higher than it was at the same time last year.
Last week, for example, average mortgage rates fell again and are now at seven-month lows.
From a borrower's perspective, rates held steady at seven-month lows last week providing some borrowers an opportunity to refinance.
Over the last two weeks applications have increased 13 percent and the average loan size increased to its largest since September 2016, reflecting the tendency for jumbo borrowers to be more sensitive to rates.
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