Tag Archives: Refinances

After three weeks of declines, mortgage applications have reversed course, as rates still linger in the purchase and refi-friendly 3% range.

Mortgage applications are slipping, as the war between low rates and affordability continues in the nation’s housing market.

According to a new survey, millennials are driving the share of refis to new territory, reaching heights not seen since the early days of the pandemic last April.

As mortgage rates remain low, an increasing number of homeowners are being shut out by their slight rise and the inability to refinance.

A combination of record low rates and a strong demand for housing fueled a record-breaking year for housing in 2020, according to Black Knight’s latest Mortgage Monitor Report.

Refinances led the way in the fourth quarter, as record low rates contributed to a more than 70% year-over-year rise in refi activity.

The latest report on originators also found the time to close all loans rose month-to-month. Click through to see how long it takes.

However, the time to close on all loans rose due to increased volumes for lenders.

A new study on originations found the share of refinances have nearly doubled since April 2019.

While this is a decline from the prior quarter, purchase originations rose in more than 60% of the cities studied in a new report.