Mortgage Lenders Do What They Can to Survive Rising Rates

Yahoo! Finance, Nov. 2, 2022–Janna Herron
It’s no secret the mortgage market is getting hammered. But it’s not just skittish homebuyers who are smothering mortgage lenders. It’s largely the non-existent refinance market — down around 85% from last year — as nearly no homeowner wants to sacrifice their 3% mortgage rate they secured in the last two years. Overall, mortgage activity is at its lowest point since before the turn of the millennium in 1997. (MBA mention)