All posts tagged: low interest rates

Interest rates reached a new low in January, resulting in Increased Refinance Mortgage Activity

MortgageNewsDaily.com reports that according to Ice Mortgage Technology (formerly Ellie Mae), in their Loan Origination Report for January, “closed loans continued to show declining note rates in January, dropping from an average of 2.93 percent in December to 2.88 percent” and also includes “Interest rates continued to decline in January, driving up the share of refinances by seven percent,”

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Notary Near YouInterest rates reached a new low in January, resulting in Increased Refinance Mortgage Activity
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Mortgage Rates Plunge to All-Time Lows

Home owners and home buyers across the nation are thrilled to have an opportunity to secure a mortgage rate that is the lowest rate ever offered in the US. During a year that has seen a pandemic and civil unrest, the nation also enters a time where the average lender is offering mortgage rates that are below 3%.  

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Notary Near YouMortgage Rates Plunge to All-Time Lows
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Mortgage Refinance Boom Creates Pressure on Lenders

Lenders across the US are struggling to keep up with the Mortgage Refinance Boom. The recent Federal Reserve rate cut has motivated many homeowners that were waiting for the right time to refinance to make their move and file an application.  Major lenders are doing their best to meet the need including hiring new loan underwriters, processors, and closers.
Purchase application volumes have also increased to the highest level in over 11 years, which is adding to the pressure on the entire mortgage industry affecting lenders, appraisers, and title companies.

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Notary Near YouMortgage Refinance Boom Creates Pressure on Lenders
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Low Interest Rates Will Continue

Debates about the future of our national economy have always involved many different viewpoints and opinions.  Economic advisors and experts build their opinions on a variety of factors, and it is interesting to read their diverse projections. One thing they cannot debate is the fact that our nation has had a decade of low interest rates.

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Notary Near YouLow Interest Rates Will Continue
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