According to the Mortgage Bankers Association, residential finance applications rose nearly 50 percent in one week in January, the largest gain in one week since November 2008. With rates at their lowest since May 2013, nearly two-thirds of the applications were to refinance.
Moreover, the low rates are increasing jobs in the home construction industry as employment increased by nearly 7 percent in December.
Analysts also believe that 2015 could be the year in which Millenials become home buyers for the first time.
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