【CNBC】Mortgage refinance demand spikes 20% as borrowers fear missing out on record-low rates

• The average contract interest rate for 30-year fixed-rate mortgages increased to about 2.88% from 2.86% last week.
• Mortgage applications to purchase a home, which are less sensitive to weekly rate moves, rose 8% for the week and were 10% higher than one year ago.

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