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  • Chinor Eleazu

Mortgage Rates Set Another Record Low, Sparking New Strength in Refinances

Updated: Oct 14, 2020

While refinances volume continued to spike, application volume for new home purchases continues to wane.


"There are signs that demand is waning at the entry-level portion of the market because of supply and affordability hurdles, as well as the adverse economic impact the pandemic is having on hourly workers and low- and moderate-income households," said Joel Kan, an MBA economist. "As a result, the lower price tiers are seeing slower growth, which is contributing to the rising trend in average loan balances."  


You can read the full CNBC update here:

https://www.cnbc.com/2020/10/07/mortgage-rates-set-another-record-low-sparking-refinances.html


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