USA Today told readers that low mortgage rates "trigger race to buy, refinance." The second part of this sentence is true.The Mortgage Bankers Association (MBA) index for applications for refinancing has soared in recent weeks. However, the MBA purchase applications index remains near its low point for this downturn.
--Dean Baker
TAP depends on your support
We’ve said it before: The greatest threat to democracy from the media isn’t disinformation, it’s the paywall. When you support The American Prospect, you’re supporting fellow readers who aren’t able to give, and countering the class system for information. Please, become a member, or make a one-time donation, today. Thank you!
