How AI could increase mortgage rates: ▫️Only 30% of US homeowners refinance mortgages when interest rates fall. ▫️AI-powered mortgage tools (eg. Rocket, UWM, Better) could increase number of refinancers to 60% by reducing paperwork friction and automating more of the process. ▫️In response, banks to raise rates across $9T mortgage market…tytt homelending rates are set with expectation that most people don’t have time (or information) about the opportunity to prepay/refinance when rates…