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News & Press: Industry News

Low Rates Encouraging for Refinance Volume

Tuesday, April 16, 2019  
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As U.S. Treasury rates fall, refinancing becomes an increasingly attractive option for a growing number of homeowners. The ten-year treasury yield is now around 2.500%. The Financial Times reported that David Finkelstein, chief investment officer at Annaly Capital Management, suggested that a 2.2% rate would make refinancing attractive for approximately half of all federally backed mortgages. Black Knight, a mortgage data analytics firm, recently reported, according to Housing Wire, that close to 5 million homeowners could reduce their rate by at least .75% by refinancing. The Mortgage Bankers Association recently reported refinancing applications at 44.1% of total applications. The one clear takeaway is refinancing activity is extremely rate sensitive.

California Land Title Association

1215 K Street #1816 Sacramento, CA 95814-3905
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