Refinancing Activity Slows

Although mortgage interest rates remain low by historic standards, the increases begun in 2016 have resulted in significantly lower refinancing and loan-origination activity in the first quarter of 2017.

Refinancing declined 22 percent from the same period last year and a whopping 36 percent from the fourth quarter of 2016.

Moreover, load-origination fell 21 percent from the first quarter of 2016 and 30 percent from the first quarter of last year.

This trend will likely continue as the Federal reserve is expected to raise interest rates again in June.

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