ICE Mortgage Monitor: Refinance Activity Increased Especially for Rate/Term Refinances

Today, in the Real Estate Newsletter: ICE Mortgage Monitor: Refinance Activity Increased Especially for Rate/Term Refinances

Brief excerpt:

When mortgage rates declined in September and October, there was a surge in refinance activity, especially in rate/term refinances by homeowners with mortgage rates in the 7%+ range.

• More than 300K borrowers closed on refinances in September and October, including nearly 150K rate/term refinances
...
• Refinances out of 2023 and 2024 vintages drove 78% of rate/term lending, and nearly half of refinance activity overall

There is much more in the newsletter.