Mortgage refinance booms are a thing of the past: MBA chief economist
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.
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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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A key thing to note is that the mortgage applications purchase index has been trending up since early March. Here’s a chart from Jim O’Sullivan, chief economist at High Frequency. following.
"It is structurally a different mortgage market than we’ve seen in the past," MBA Chief Economist Mike Fratantoni said at the conference. "That long period of refi activity concentrated the entire market into a narrow band.
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It’s been a while since I did a housing market round-up, but I’ve been saving articles from the past few months. by the owner accounted for 32% of the prime-mortgage defaults recorded as of June 30.
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The Mortgage bankers association (mba) today released its Weekly Mortgage Applications. Over a month ago we wrote, "Right now we’re witnessing the beginnings of a mini-refinance boom in the primary.
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
A turnaround in interest rates turned borrowers back on their heels last week, deflating a quick boom in refinance demand. Mortgage application volume fell 5.6% from the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. Applications were still 24% higher.