- REZYFi is a real estate-oriented mortgage company servicing the needs of licensed and permitted cannabis companies and owners of real estate who lease to cannabis companies
- The average rate on a 30-year-fixed-rate mortgage, measured weekly, has been declining gradually since October last year, increasing the market for new and refinanced mortgages
- Mortgage refinancing can be a source of capital, presenting an important financing opportunity for business operators in the cannabis space who struggle to access money from traditional banks
In the months since the US average rate on a 30-year-fixed-rate mortgage peaked at more than 7.10% in October last year, the value has been gradually declining. According to Freddie Mac’s weekly mortgage rate survey, the average rate stood at 6.12% as of February 9, 2023, a slight increase from the 6.09% average recorded a week earlier on February 2, 2023 (https://cnw.fm/emPrr). This general softening has had a ripple effect.
Data from the Mortgage Bankers Association (“MBA”) shows that the decrease in average mortgage rates resulted in a week-over-week increase in mortgage applications for the week ending February 3 (https://cnw.fm/LVJLz). According to the trade group, the Market Composite Index, a measure of the…
NOTE TO INVESTORS: The latest news and updates relating to REZYFi are available in the company’s newsroom at https://cnw.fm/REZY
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