Mortgage servicer refinance retention rose to a 3.5-year high in the third quarter as falling interest rates encouraged homeowners to reduce monthly payments for lower returns than in past cycles.
Tag: Refinance Activity
ICE First Look: Increased Refinance Activity Drives Mortgage Prepayments Up
Softening mortgage rates expanded the pool of refinance candidates in October and pushed prepayments to their highest level in three and a half years, according to ICE Mortgage Technology, Atlanta.