3 ms·
Source on the nearly everyone part of this? Seems hard to believe.
by sbelskie 4y ago
Source on the nearly everyone part of this? Seems hard to believe.
- MSM 4y agoNearly everyone should have been qualified- many folks couldn't take advantage or had a low enough balance that it didn't make sense. I don't have the raw numbers, they're almost all paywalled off, but you can see the recent volume of refi has been a multiple of each quarter from 2013 through 2019. https://www.attomdata.com/news/market-trends/mortgage-origination/attom-q4-2021-u-s-residential-property-mortgage-origination-report/ https://www.attomdata.com/news/market-trends/mortgage-origin... The total outstanding residential mortgages today are roughly $12T. Since 2020 onward, over $5T in volume has been refinanced. That's a large portion of the population with a mortgage that is very early in its lifespan. https://www.statista.com/statistics/205946/us-refinance-mortage-originations-since-1990/ https://www.statista.com/statistics/205946/us-refinance-mort...