Why are More People Not Refinancing into Lower Rates

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This is a bit surprising,

 

From DS News

Reports: Refi Numbers Low Despite Low Mortgage Rates

It was no surprise when mortgage rates dropped in the weeks following the Fed's announcement that it would purchase $40 billion of agency mortgage-backed securities (MBS) each month until the labor market shows substantial improvement. Even with the record-low mortgage rates seen today, refinancing numbers are still not as high as expected. CoreLogic and Capital Economics highlighted different factors for the lack of refinancings in separate reports. » Read More

 

 

- sunil

 

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