Cheap rates may push refis to a 3-year high

Cheap rates could push mortgage refinancings to an almost three-year high in the current quarter, the Mortgage Bankers Association said in their latest forecast. The refi volume probably will grow to $180 billion in 2019’s third quarter, the group said. That would be the highest since the $265 billion of refis in 2016’s fourth quarter, according to MBA data. The refi share probably will be 33%, the highest since the first quarter of 2018 when it was 37%, the forecast said.