at Calculated Risk on 12/09/2024 10:57:00 AM
Today, in the Real Estate Newsletter: ICE Mortgage Monitor: Refinance Activity Increased Especially for Rate/Term Refinances
Letter excerpt:
When mortgage rates declined in September and October, there was a surge in refinance activity, especially in rate/term refinances by homeowners with mortgage rates in the 7%+ range.
• More than 300K borrowers closed on refinances in September and Octoberincluding nearly 150K rate/term refinances
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• Refinances out of 2023 and 2024 vintages drove 78% of rate/term lendingand nearly half of refinance activity overallThere is much more in the newsletter.
