Refinance Volume Decline: Is the REFI Market Truly Endangered?
Refinance (REFI) volume is down a sharp 39% year-over-year, primarily because rising interest rates (expected to exceed 5%) are eliminating the financial incentive for homeowners to refinance. The market is also saturated, as most homeowners already have loans with rates below 4%. Borrowers who need cash are now using second mortgages and HELOCs instead of […]
