First American Chief Economist Mark Fleming was interviewed on CNBC and Deputy Chief Economist Odeta Kushi was interviewed on Nightly Business Report last week, where they discussed the refinance boom driven by low mortgage rates and the tailwinds boosting the housing market.
First American Chief Economist Mark Fleming on the refinance boom:
“It’s not just about rates, it’s also about having the equity in your home. It’s some combination of those two that would really drive a surge in refinancing.”
Deputy Chief Economist Odeta Kushi on the tailwinds benefitting the housing market:
“Consumers are in a great position. They have lower mortgage rates. The labor market continues to be at 50-year bests and we’re seeing house price appreciation moderate. Affordability is really on the consumer side right now, so we expect to see a little bit of an extended summer selling season.”