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14 million mortgages were refinanced during ‘pandemic boom.’ That makes life very difficult for home buyers.

Por: MarketWatch Business May 16, 2023

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During the early days of coronavirus pandemic in 2020 and 2021, mortgage rates fell sharply, and millions of homeowners jumped at the opportunity to refinance. The 30-year mortgage fell down to 2.65% in early January of 2021, according to . The Federal Reserve Bank of New York estimated that 14 million mortgages were refinanced during the “pandemic refinancing boom.”  The surge in refinancing was, in part, due to strong household balance... + full article



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