Loan Refis Heading Up
Mortgage loan refinancing activity has been climbing steadily for five months now.
In Connecticut, 9,857 single-family home loan refis were recorded in March. That’s up 27 percent from February when there were 7,752 refi loans.
It’s also a significant jump from last fall, when refis were hovering around the 4,000 to 5,000 range.
In fact, refi activity has more than doubled from November to March.
In contrast, purchase mortgage activity has been mostly on a downward trend since November. There was a good pick-up in activity in March, when there were 1,172 purchase mortgages for single-family homes, up from 808 in February.
Still, March’s level is half what it was in June and July.