Mortgage applications rise 1.6% as interest rates hit lowest level since Sept

Daniel Acker | Bloomberg | Getty Images

Prospective home buyers arrive with a realtor to a house for sale in Dunlap, Illinois, U.S., on Sunday, Aug. 19, 2018. 

December may be a slow month traditionally for the housing market, but mortgage lenders are suddenly getting busier. A sharp drop in interest rates drove mortgage application volume up 1.6 percent last week from the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index.

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