The U.S. mortgage market is experiencing a resurgence not seen in years, as a sharp drop in borrowing costs prompted a wave of refinancing activity ahead of the Federal Reserve's widely expected interest rate cut—signaling that homeowners aren't waiting for policy confirmation to lock in savings.
During the week ending Sept. 12, total mortgage application volume jumped 29.7% from the prior week, according to new data from the Mortgage Bankers Association (MBA).
