Mortgage Bankers Association (MBA)

Refinance applications more than double year-over-year

Applications remained unchanged from July, but estimated new home sales increased almost 15% over the month, said the MBA.

Purchase locks sank 16% year over year, despite August being the most affordable month for home buying since February.

As mortgage rates tick down, refinances tick up

Credit standards loosen with uptick in cash-out refis and Non-QM loans, MBA reports

CoreLogic determines how many loans would be ripe for a refi if rates drop again