Refinance lending climbed more than 60% from the previous quarter, nearly triple from the same period the previous year, and represented nearly 70% of all first lien originations by dollar volume.
Black Knight Data & Analytics President Ben Graboske said in a press release that he expects low interest rates will continue to support the market. “After all, there are still nearly 18 million homeowners with good credit and at least 20% equity who stand to cut at least 0.75% off their current first lien rate by refinancing,” he said, according to the article.
