FHFA says GSE foreclosure prevention actions fell in May
Refi volume fell 29.9% as the average 30-year fixed rate rose to 6.44%, FHFA data revealed
Refi volume fell 29.9% as the average 30-year fixed rate rose to 6.44%, FHFA data revealed
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Why it matters
The FHFA report on declining GSE foreclosure prevention actions and falling refinance volume amid rising mortgage rates is a notable indicator of housing market stress and credit conditions, relevant to credit professionals monitoring mortgage credit risk and refinancing activity.
Sources
HousingWire
FHFA says GSE foreclosure prevention actions fell in May
Refi volume fell 29.9% as the average 30-year fixed rate rose to 6.44%, FHFA data revealed