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Mortgage Refinancing Surges Amid Economic Uncertainty

8/7/2025

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Summary

Story summary

Refinance activity in the U.S. mortgage market has risen, comprising 41.5% of applications, while ARMs account for 8.5%.
Mortgage balances grew by $131 billion in Q2 2025, reaching $12.94 trillion, with FHA loans experiencing increased delinquency rates.
Both the Bank of Canada and U.S. Federal Reserve maintained current interest rates, but a potential cut is anticipated in September due to economic concerns.

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Story summary

Refinance activity in the U.S. mortgage market has risen, comprising 41.5% of applications, while ARMs account for 8.5%.
Mortgage balances grew by $131 billion in Q2 2025, reaching $12.94 trillion, with FHA loans experiencing increased delinquency rates.
Both the Bank of Canada and U.S. Federal Reserve maintained current interest rates, but a potential cut is anticipated in September due to economic concerns.