CHICAGO (MarketWatch) -- The volume of mortgage applications filed last week rose slightly, increasing a seasonally adjusted 2.8% compared with the week before, the Mortgage Bankers Association reported on Wednesday. Applications dropped 33.7% for ... Low mortgage rates in turn lead to bigger savings from your monthly payments. And with a refinance mortgage loan, you can take advantage of this basic financing concept and reduce your monthly repayments while at the same time, increase your monthly savings.