It’s not just about the rate anymore. Negative equity, strict underwriting and big bank backlogs are keeping many borrowers from taking advantage of these incredibly low mortgage rates.
“If
history is any lesson, the only thing that can really extend refi
activity in a low rate environment is a loosening of underwriting
standards to bring more borrowers into the market. And that is not
likely to happen anytime soon,” said Guy Cecala of Inside Mortgage
Finance.
This was a good suggestion that you put up here...dude…..hope that it benefits all the ones who land up here.
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Thank you for the comment much appreciated.
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