NEW YORK (AP) -- The lowest mortgage rates in decades are just too good for some people to pass up.
Brokers are reporting rising interest in home refinancings as rates on a 30-year fixed loans have hit record lows in four of the past five weeks. This week the average rate fell to 4.56 percent, the lowest since mortgage company Freddie Mac began tracking rates in 1971.
Weekly applications to refinance home loans have nearly doubled in July from April, according to the Mortgage Bankers Association.
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Refinancings rise as mortgage rates hit 4.56 pct.
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