The 30-year fixed mortgage rates set a new record low of 4.09% with a 0.7 point that equates to 4.265%, according to Freddie Mac's weekly survey. This is down three basis points from last week's record low of 4.12%.

While this should perk up refinancing activity, it looks to be a struggle for the Mortgage Bankers Association's (MBA) Refinance Index to reach a new high at this time. 

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