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Mortgage affordability improves in August, boosting refi incentive: ICE

Declining mortgage rates in August provided some relief for U.S. homebuyers and made it the most affordable month since February.  Of the 2.5 million “in-the-money“ mortgage holders as of Aug. 22, more than 60% took out their mortgages in the past two years, including 850,000 in 2023 and 560,000 this year. The average highly qualified…

UWM debuts new 75-bps incentive on refis

United Wholesale Mortgage (UWM) is rolling out a new 75 basis-point incentive program for conforming conventional and government-backed rate-and-term refinances. The program, dubbed “Refi75,” effectively replaces and expands on “Govy 125,” a 125-bps incentive that ended Tuesday for Interest Rate Reduction Refinance Loans (IRRRLs) through the U.S. Department of Veterans Affairs (VA) and Streamline Refinances…