Mark Rawls

Across the US, the avg. 30-yr fixed refinance rate was ~7% in current data, keeping refi decisions rate-sensitive for homeowners weighing savings or equity access.
Refinancing replaces an existing mortgage with a new loan, and approval still depends on credit, income, debt levels, and other lender standards.
A common guideline: refinancing can make sense when a new rate lands ~1 point below your current mortgage, or when goals extend beyond rate savings.
Closing costs often run ~2% to ~6% of the loan amount, so homeowners should compare rate-and-term, cash-out, no-closing-cost, and streamline options carefully.
After the central bank's benchmark hike in Late-Q3 2026, near-term mortgage rate relief looked unlikely, making careful shopping and lender incentive checks especially relevant.

U.S. Refinance Rates Near 7%

Single-family mortgage REITs stayed resilient, but recent volatility and debt-sale delays made lenders watch whether these leveraged buyers could trim appetite for home loan assets.
One mortgage REIT said AAA non-QM spreads widened ~10 basis points in the recent quarter, far milder than 2020's 75-basis-point first-quarter shock.
That same buyer reported correspondent loan fundings at ↑>12% quarterly and ↑~46% yearly to $5.78B, showing buying continued in the recent quarter despite volatility.
One mortgage REIT used >$24B repo financing from >25 providers and kept a $1.3B liquidity buffer, highlighting diversification and cash cushions in tougher conditions.
For lenders, the takeaway is monitor REIT pricing and keep backup outlets, since demand can pull back until market stabilization improves sales confidence.