Mortgage refinance booms are a thing of the past: MBA chief economist

While some may point to recent drops in the Mortgage Bankers Association’s (MBA) Refinance Index as proof that the refinance boom is already coming to a close, FBR says otherwise. “Instead, we argue that there are likely $1 trillion of refinances in an estimated $1.7 trillion to $2.0 trillion overall market this year, and we predict a corresponding bounce in the MBA index,” the report reads.

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Mortgage refinance boom goes bust as rates shift higher. according to the Mortgage Bankers Association’s seasonally adjusted index.. The sharp drop in mortgage rates in the past month had.

Two rivers title company is a multi-state title agency and escrow company based in Little Silver, NJ.. Mortgage refinance booms are a thing of the past. Era of plentiful refinance volume is over according to Mortgage Bankers Association Chief Economist.. Keep Reading. Pipeline: Refi Revival No Sure Thing, Despite the.

"If we stay at this level of activity, we’ll call it a boom," says Doug Duncan, the MBA’s chief economist. "It has to be sustained." The good news is that the current rush began several weeks.

Mortgage refinance booms are a thing of the past: MBA chief economist In mortgages, these banks zigged while many others zagged House panel advances two flood insurance changes, but divisions remain The House of Representatives voted 264-155 today to pass bipartisan legislation that encourages the sale of private flood insurance in place of.

The rally in mortgage application volume that sent several of the Mortgage Bankers Association’s (MBA’s) metrics to recent highs at the end of March faded last week as interest rates reversed course..

 · The share of mortgage applications for refinance loans has hovered above 50% since the first week in May, but that doesn’t mean the mortgage industry is in the midst of another refinance boom, or even a boomlet. In fact, Freddie Mac recently made its "official" call that the refinance boom ended in the second quarter of 2014.

A turnaround in interest rates turned borrowers back on their heels last week, deflating a quick boom in refinance demand. mortgage application volume fell 5.6% from the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. Applications were still 24% higher.