Homeowners took advantage of low refinancing interest rates last week and are about to reap the benefits.  The Mortgage Bankers Association Weekly Applications Survey showed applications spiked to the highest level in more than three years.  And there’s a good reason why. Interest rates are at record lows according to the survey. For a 30-year-fixed rate mortgage for a home of $417,500 or less, the interest rate was 3.53% with upfront fees, or points, costing 0.35. For pricier property the interest rate was 3.82% with upfront fees at  0.36.  And FHA mortgage rates for a 30-year-fixed rate mortgage were 3.37%