Americans are sprinting to refinance their mortgages as rates fall

Applications to refinance a mortgage rose 70% last week compared to the same week a year ago, according to MBA datacarlofranco/Getty Images Mortgage refinance applications rose 58% last week, per data from the Mortgage Bankers Association. Borrowing costs have dipped ahead of an expected rate cut from the Fed. The 30-year fixed mortgage rate fell 15 basis points to 6.35% last week, per Freddie Mac. There's one group of Americans already benefiting from the Fed's coming rate cut decision: current h ...