Ellie Mae: Low interest rate environment sends refinance activity soaring in August

Nationwide refinances accounted for 43% of loans during August. In August, the 30-year note rate dropped to 4.07%, falling from 4.18% in July. This decrease attributed to an uptick in refinances, which accounted for 43% of all loans during the month, according to the report. “The drop in interest rates month-over-month continues to drive up […]