A Q&A with the MBA’s Chief Economist

Builder, Feb. 28, 2017–Brian Croce
With rates at a low point for a while now, homeowners have had ample time to refinance their mortgages if they were inclined to do so. With that in mind Mike Fratantoni, chief economist for the Mortgage Bankers Association, is expecting a large decline–47%–in refinance volume this year. “For those who have focused more on the refi business, it’s going to be a tougher year,” he says.