Mortgage refinance booms are a thing of the past: MBA chief economist

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Lunchtime Data Talk Mortgage Origination-Pricing and Volume: More than You Ever. MBA’s? Office of the Chief Economist 12 . Loan Product, Purpose, Amount, and Credit. Boom Refinance Share of Applications (Percent) 30-Year FRM Rate.

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Mortgage Refinance Booms are a Thing of the Past: mba chief economist national mortgage news, May 21, 2019–Brad Finkelstein The era of plentiful refinance volume is over for the foreseeable future, the result of mortgage rates remaining in a very narrow band for the past decade, said Mortgage bankers association chief Economist Mike Fratantoni.

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Expert predictions that 30-year mortgage rates would climb to at least 5percent this year haven’t come true, and the housing market is taking full advantage of the delay. Some homeowners who weren’t.

Similarly, with many home borrowers already in the range of 3.5 percent to 4 percent on their mortgages, the spike in refinancing may not last very long, said Michael Fratantoni, the MBA’s chief.

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Mortgage application. has been clearly apparent in the past few weeks with double and even triple digit percentage changes in refinance application volume for jumbo loans," said Mike Fratantoni,

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The era of plentiful refinance volume is over for the foreseeable future, the result of mortgage rates remaining in a very narrow band for the past decade, said Mortgage Bankers Association Chief Economist Mike Fratantoni. The unexpected drop in mortgage rates since last November was "incredibly positive" for the home purchase business following the rapid

Others say the memory of mortgage lenders done in by easy-credit policies during the boom is still vivid. availability of low-down payment loans,” said Mike Fratantoni, chief economist and a senior.

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Mortgage Refinance Booms are a Thing of the Past: :Mortgage Refinance Booms are a Thing of the Past: MBA Chief Economist The era of plentiful refinance volume is over for the foreseeable future, the result of mortgage rates remaining in a very narrow band for the past decade, said Mortgage Bankers Association Chief Economist Mike Fratantoni.

Freddie Mac has officially declared that the refinancing boom is over. The company’s Refinance Report for the second quarter of 2014 said that the longest refinance boom in the 24 years since it.