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

Mortgage refinance booms are a thing of the past: MBA chief economist. nationalmortgagenews.com. The era of plentiful refinance volume is over for the foreseeable future, because mortgage rates remained in a very narrow band for the past decade,

Mortgage refinance booms are a thing of the past: MBA chief economist. nationalmortgagenews.com. The era of plentiful refinance volume is over for the foreseeable future, because mortgage rates remained in a very narrow band for the past decade,

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While low rates have led some to predict a refinance boom, Mike Fratantoni, chief economist for the Mortgage bankers association (mba), isn’t among the chorus. Fratantoni, speaking at MBA’s National Secondary Market Conference in New York, granted that the rate drop following last year’s mounting hikes was undoubtedly positive for buyers.

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A sharp drop in the last few weeks has already created a mini refinance boom. Mortgage applications to refinance jumped nearly 27% last week from the previous week and were 97% higher compared.

As quickly as refinance activity increased in recent weeks, it backed down again in response to the rise in rates. However, this spring’s lower borrowing costs, coupled with the strong job market, continue to push purchase application volume much higher."–MBA Chief Economist Mike Fratantoni.

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.

Production costs rise to highest level ever: MBA; Purchase share grows, closing times shrink ahead of spring market; Freddie Mac rolling out servicing transfer technology for cash sales; Among consumers managing debt, buying a home is a low priority; Mortgage refinance booms are a thing of the past: MBA chief economist; Categories. FHA Loan.

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.

Michael Fratantoni, MBA’s Chief Economist and Senior Vice President said, "We are projecting that home purchase originations will increase at a faster clip in 2018, nearly double the rate that.

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