Mortgage Industry Adapts to Rising Interest Rates The U.S. mortgage industry is adapting to rising interest rates, transforming lending strategies, and borrower behaviors. This article explores the implications for lenders and borrowers, offering insights into new trends and strategies.

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Refinances Jump to 10-Year High After Rates Tumble

Wednesday, Mar 18 2020
Lending
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As concerns about the coronavirus health emergency drive down interest rates, homeowners are rushing to refinance their mortgages. So reports CNBC.

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Refinance applications rose 79% for the week ending March 6 to their highest level since April 2019, according to the Mortgage Bankers Association.

MBA economist Joel Kan said that the MBA is almost doubling its 2020 refinance originations projection to $1.2 trillion, a 37% increase from last year and the largest refinance volume since 2012.

Read the full article from CNBC.

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