"It's Utter Mayhem" - US Mortgage Rates Plunge To Record Low

Rates for 30-year US mortgages plunged to a record low on Thursday, to 3.29%, down from 3.45% last week.
Plunging rates has led to a massive refinance boom.
A quick drop in mortgage rates could boost home sales.
Lewis Sogge, a senior loan officer at Freedom Mortgage, said "mortgage rates are lower than I thought we'd ever seen. Everyone is working overtime to handle the new loan supply. Its utter mayhem."
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