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 Drop But Remain Near Historic Highs

Sunday, Mar 22 2020
Lending
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Refinance applications fell 10% in the most recent week tracked by the Mortgage Bankers Association, while mortgage applications decreased 8.4%. So reports USA Today.

The declines for the week ending March 13 came as volatility related to the coronavirus outbreak drove mortgage rates to their highest since mid-February, according to the MBA.

But aside from a jump two weeks earlier, overall mortgage activity remained its highest since October 2012, and almost 75% of all applications were refinances, the MBA said.

Read the full article from USA Today. 

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