Not a surprise refis are way down. I'm surprised its not down 90%. Why would you be refinancing now when you didn't 6 months ago at 1.5-2% lower rates (maybe their refinancing into 7/1 ARMs?)
Not a surprise refis are way down. I'm surprised its not down 90%. Why would you be refinancing now when you didn't 6 months ago at 1.5-2% lower rates (maybe their refinancing into 7/1 ARMs?)
This is true. In Atlanta inventory is very low. Homes in our neighborhood sell in one day and currently not one house for sale. We expect to sell ours soon in a bidding war. And as a long time mortgage broker I can attest that as fixed rates rise people just switch to ARMs. I see ARMs are up 14.9%. Not surprising.