Housing market 'will see a lot of refinancing' as mortgage rates drop, says Mr. Cooper Group CEO

Jay Bray, Mr. Cooper Group chairman and CEO, joins 'The Exchange' to discuss the recent drop in mortgage rates and what this means for homeowners, the economy, and more.

[mbnesbitt]

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[MichaelBrown-nyet]

One problem with refinancing, you have to have the equity. Most of these homes will not appraise because of buyers paying way over asking price.

[PianoMatronNeeNee]

How will people refinance when there’s so many delinquencies (car, student loans, credit cards etc.)

[serg]

How r u gonna refinance when u barely hitting the principal on ur monthly pymt bc of ur high interest rate?

[PCCC]

Shocking…. In an election year, mortgage rates are dropping! ABSOLUTELY SHOCKING!

[lazynow]

Yea...good luck when housing prices have stalled, inventory going up, and jobs are sliding...

[NNNn]

Buying a home with a mortgage is often misleading when described as an investment. Mortgages can make U.S. citizens work tirelessly, only to become exhausted. Meanwhile, the government and capitalists are taking people's money. This is unfair, but no one seems to listen.

[GooniesKFA]

Anybody that refinance at this time is just plain stupid. You’re not saving much by doing so. Need to drops at least 2 percent or more. Nobody smart will buy at this rate when houses are inflated.

[Kristine-xd]

I have had a mortgage for 32 years and recently sold to Mr Cooper. Bought my house for 105K back in 1992. I still owe 180K due to refinancing years ago. Not sure what I did wrong or if I were duped. My monthly payment is $1500 and will probably go bankrupt before I see my next birthday. The economy is litterally killing me...

[JoyceMuller-xvkh]

I'm hoping for a housing crisis so I can buy properties cheaply when I sell a few houses in 2025, but as a backup plan, I've been considering purchasing stocks; what advice do you have for choosing the best buying time given that I read about trading earnings exceeding $500k each week, yet also hear that the market is out of control and experiencing a dead cat bounce—why does this discrepancy occur?