• Home
  • Lending
  • Refinances Drop But Remain Near Historic Highs
Lending

Refinances Drop But Remain Near Historic Highs

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

Related Content

Pandemic Unlikely to Slow Millennial Marriages and Linked Homeownership Demand: First American

Purchase Loan Applications Keep Gaining, Up 19%

Home Loan Forbearance Rate Falls to Two-Month Low

click me