Triangle Business Today

Refinances buoy mortgage market

Posted July 7, 2010 7:02 p.m. EDT

Refinancing hit a nine-month high last week – giving some traction back to the mortgage banking market. However, if we drill down into the percentages, we now see that refinances account for approximately 78 percent of all housing transactions – a staggering one-sided figure which does not bode well for the short term purchase market.


 

About this Blog:

Jeremy Salemson, CEO of Corporate Investors Mortgage Group, blogs about economic trends and data and their impact on Triangle business. Each week, he interviews a Triangle-area business leader for a personal look at the local economy.