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

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.

Mortgage refinance booms are a thing of the past: mba chief economist. 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,

In plainer terms, mortgage rates have some room to move lower, but it won’t necessarily be quick. They can avoid moving higher as long as the big bond market rally of the past 2 weeks isn. the risk.

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Economist: Home price gains aside, housing is still really affordable. home prices actually dropped in the past 16 years, First american chief economist mark. mba Chief Economist Mike.

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According to the firm, this means there is a "large portion of loans with an economic incentive to refinance." While some may point to recent drops in the Mortgage Bankers Association’s (MBA) Refinance Index as proof that the refinance boom is already coming to a close, FBR says otherwise.

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.

at the height of the housing boom. An index value of 100 is equal to the application volume on March 16, 1990, the first week the MBA tracked application volume. A reading of 477.7 means mortgage.

The Federal Reserve cut interest rates last week, but mortgage rates had their biggest one-week upturn in nearly a year.According to data released Thursday by Freddie Mac, the five-year.

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The U.S. mortgage delinquency rate fell to 4.1% of all loans in. areas that were hit hard by natural disasters have seen a rise in loan defaults,” says Frank Nothaft, chief economist for CoreLogic,