Implied Fed Rate Cuts Spur Housing And Mortgage Activity
Mortgage rate lows are driving refinance and purchase market activity. With the possibility of a fed rate cut later this month, the mortgage market is on high alert.
Affluent, Rural, Older Home Owners Seeking New Purchase Mortgages in Q1
In comparison to the refinance and reverse markets, consumers actively seeking purchase mortgages are more diverse in age and income levels according to the Q1 2018 Mortgage Consumer Profile Report.
More Affluent Homeowners Sought New Refinance Loans in Q1 2018
A shift in the refinance market occurred from 2017 and Q1 2018, resulting in more affluent homeowners with increased home values and higher mortgage balances, seeking new refinance loans.