Mortgage Refinancing Boom Is Too Automated

Bloomberg, Sept. 25, 2020–Danielle DeMartino Booth
The Covid-19 pandemic has unleashed numerous unexpected economic consequences. One that has turned out to be good for the economy but could end up being disastrous is the boom in mortgage refinancings. Just like with the last financial crisis, there are signs that the surge in U.S. consumers seeking to take advantage of ever lower borrowing costs are being aided by relaxed lending standards. (MBA mention)