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

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

Boom 2001-04 . Boom . 1998. Source: Home Mortgage Disclosure Act, Freddie Mac Primary Mortgage Market Survey ®, CoreLogic; 2017-2018 forecast is average of MBA, Freddie Mac, Fannie Mae and IHS Markit (FRM rate only) projections. Refinance Share of Lending (Left) Fixed Mortgage Rate (Right) 2009-13 Boom . Refinance Share of Lending (Percent) 30

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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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, said Mortgage Bankers Association Chief Economist Mike Fratantoni.

Just months ago, low mortgage rates seemed a thing of the past. Most experts were predicting rates would rise throughout the year following the Federal Reserve’s rate hike in December. But home loan rates didn’t increase. In fact, they’ve sank to near-record lows as the global economy lurches from one crisis to the next.

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There was plenty of foreshadowing, but Fannie Mae’s Chief Economist Doug Duncan said last week that cost-cutting has risen as a priority for mortgage lenders. Both the Mortgage Bankers Association’s.

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.

Bonnie Sinnock Bonnie Sinnock is the capital markets editor of National Mortgage News. She has been writing for National Mortgage News since 1995. She also has worked on other SourceMedia publications as an editor and a reporter.

Right now, the rates represents good news for home buyers hoping lower costs as well as stability in the mortgage market. “Our latest thinking is that they’ll stay close to the level,” said Mike.

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