Mortgage Refi Activity Jump Most Since 2020 As Lenders See Gloom Ending

Mortgage Refi Activity Jump Most Since 2020 As Lenders See Gloom Ending Mortgage lenders have endured a brutal 2.5-year period of the Federal Reserve's interest rate hiking cycle, with a high rate environment pressuring refinance applications to multi-decade lows. However, those lenders who weathered the downturn—dodging widespread layoffs, industry consolidation, and scraped by on Ramen Noodles and Zyn pouches—are now seeing a serious surge in activity as mortgage rates slide on rising recession probabilities. For the week ending August 9, the Mortgage Bankers Association's refinancing index jumped a whopping 34.5%...