Refinance Activity Spiked In February Close To Pandemic Refinance Surge Peak, ICE Mortgage Technology Millennial Tracker Finds Date 07/04/2021 ™, part of Intercontinental Exchange, Inc. (NYSE: ICE), a leading operator of global exchanges and clearing houses and provider of mortgage technology, data and listings services. According to recent data, refinances closed during this period accounted for 54% of all loans to members of the generation, up from 46% the month prior. This brought refinance share to a level not seen since April 2020 during the peak of the pandemic refinance surge, when it hit 55%. Younger millennials also closed a record high share of refinances for the month. This age group, born between 1991 and 1999, have typically closed more purchase loans than refinances as many are entering the housing market for the first time. However, in February, refinances accounted for 32% of loans closed by younger millennials – a significant jump since ICE Mortgage Technology began tracking the age groups separately in January 2020. However, older millennials (born between 1980 and 1990) continued to be the driving force behind the refinance surge as 61% of all loans closed by this age group were refinances.