An Estimated 4M Loans Await Refinancing Once Rates Hit 6%
NPM (National Mortgage Professional) – Katie Jensen
As mortgage rates tick down and expectations rise for multiple rate cuts by the end of 2024, lenders and originators have begun preparing for another refinance wave. After reviewing 15.7 million first-lien mortgages currently in servicing, CoreLogic discovered an overwhelming majority of U.S. household mortgages are either locked into a low-rate mortgage or “refinance burnouts.”…