Most of the attention surrounding the higher mortgage rate environment has been on the negative on the mortgage refinance market. However, that overlooks the fact that there are reasons a borrower may want to refinance in a modestly higher rate environment. For example, borrowers who have built sufficient home equity may want to cash-out some equity or refinance out of FHA to eliminate mortgage insurance premiums even when rates rise.
Read more: http://www.corelogic.com/blog/authors/sam-khater/2017/03/fha-to-conventional-refinancing-is-a-bright-spot-in-the-mortgage-market.aspx?WT.mc_id=crig_170…