Lenders Are Deluged With Refinance Requests as Virus Sends Rates Lower

Orla McCaffrey, Julia Carpenter and Ben Eisen, The Wall Street Journal

March 16, 2020

Record-low mortgage rates are delivering more refinancing demand than some lenders can handle.

At Equity Now, a mortgage lender based in New York City, operations manager Matt Hackett has started taking the 5:07 a.m. commuter train from the suburb of Larchmont and working weekends.

“I’ve been sacrificing my morning swim,” Mr. Hackett said. “We’ve been so busy there really isn’t an alternative.”

Write to Orla McCaffrey at orla.mccaffrey@wsj.com, Julia Carpenter at julia.carpenter@wsj.com, and Ben Eisen at ben.eisen@wsj.com .