Refinance

Mortgage applications ticked up slightly last week, as low refinance activity continued to offset gains in new purchase applications, the Mortgage Bankers Association said.

The number of homeowners who would benefit from refinancing their mortgage has swelled since the beginning of the year, according to Black Knight Financial Services.

Low borrowing costs and rising home values are just two of several reasons why owning a home is far less burdensome than it was a decade ago.