Mortgage Bankers Association (MBA)

Refis jump almost 60%; ARM share climbs to highest since 2008

Refinances rose to 26% of originations last month, though purchase activity is beginning typical seasonal decline

Purchase and refinance applications jump; refis account for nearly half of all activity

Lower rates and stable prices could restore balance by 2030, but affordability gains will vary widely

How LOs and brokers should prepare for possible changes

Friday’s jobs report drives rate dive after downward trend already saw rates easing