We may never again see a year like 2020. That’s somewhat somber news for the lenders who benefited from a series of downright strange conditions to generate more refi business than anyone in March could have imagined.
Both Fannie Mae and Freddie Mac reported that refis made up about 70% of their mortgage activity in 2020, and, driven by weeks upon weeks of record low mortgage rates, refis accounted for 51% of all the volume LO’s funded in Q4, soaring 158% from the same period in 2019.
However, despite a rise in overall mortgage applications over the last week, the details ⇒
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