Weekly mortgage demand rises, driven by a strange surge in refinancing

Even though mortgage rates are rising, weekly mortgage demand increased last week, driven by a surge in refinancing.

Experts say this is likely due to borrowers who locked in lower rates earlier in the year looking to refinance before rates go up further.

If you’re thinking about refinancing, it’s important to weigh the pros and cons to see if it’s right for you. You can use a mortgage calculator to get an estimate of how much you could save.