Millennials Drive Mortgage Refinance Boom, and Lenders are Scrambling

CNBC, Aug. 9, 2019–Diana Olick
Mortgage interest rates have been falling since May, so borrowers, especially millennials, are rushing to refinance. Applications to refinance were up a stunning 116% this week compared with a year ago, according to the Mortgage Bankers Association. That has lenders scrambling to keep up.