According to new data from the Mortgage Bankers Association, refinances have doubled since late July and are up 37% in just the last week. They’re now at their highest point since mid-2016.
Trade wars and economic uncertainty are the most likely culprits, sending Treasury yields and interest rates down with them, explains Joel Kan, associated vice president of economic and industry forecasting for the Mortgage Bankers Association.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Loans Loans Latest News, Loans Loans Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Refinances Double; 20 Million Homeowners Could See A Mortgage Rate DropMortgage rates hit an almost three-year low last week, and it seems homeowners are finally taking full advantage.
Source: Forbes - 🏆 394. / 53 Read more »
5 things to know before the stock market opens WednesdayDow set to drop; bonds flash recession signal; Chinese economic data weakens; China blames the US for Hong Kong protests; mortgage refinances surge The Dow is set to drop about 200 points Wednesday morning after key bond yields invert. Sell Sell Sell!!
Source: CNBC - 🏆 12. / 72 Read more »
Mortgage applications tick higher as rates drop'Total mortgage application volume jumped nearly 22% just for the week, up 81% from a year ago,' reports CNBC's DianaOlick. DianaOlick DianaOlick TrumpRecession trending TO SOON , consumer spending, working buying houses , GDP, just an algorithm DianaOlick Yes! Pump that housing market!
Source: CNBC - 🏆 12. / 72 Read more »
Falling mortgage rates boost homebuilder confidence, but not new constructionThe nation's homebuilders are feeling better about their business, as falling mortgage rates help more buyers afford homes. They are still not, however, building enough homes to meet demand. That has less to do with buyer demand and more to do with the larger economy.
Source: CNBC - 🏆 12. / 72 Read more »
The wealth gap between generations in the US has nearly doubled in the past 20 years — and the Great Recession, an unaffordable housing market, and astronomic student-loan debt are to blameMillennials have seen a decrease in net worth compared to the same-aged cohort 20 years ago, while baby boomers have seen an increase, says a study. Twenty years ago the purchasing power of “ A DOLLAR “ was $1.00 today it will buy $0.50 Is this a wealth gap or poor monetary management called INFLATION?
Source: BusinessInsider - 🏆 729. / 51 Read more »