Millennials Drive Mortgage Refinance Boom, and Lenders are Scrambling

August 12, 2019

CNBC, Aug. 9, 2019--Diana Olick
Mortgage interest rates have been falling since May, so borrowers, especially millennials, are rushing to refinance. Applications to refinance were up a stunning 116% this week compared with a year ago, according to the Mortgage Bankers Association. That has lenders scrambling to keep up.

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