ROHNERT PARK -- Bay Equity Home Loans has opened a new branch in Rohnert Park, its fourth in the North Bay, part of what the San Francisco-based lender Monday said is continued growth through the western United States and a broader shift from mortgage refinances to home purchases.
"With mortgage interest rates having increased recently, there has been a distinct slowdown in refinances, said Tim Carroll, manager of the new branch. "We anticipated this would happen and have taken the necessary steps to refocus our core business to helping people purchase homes."
Bay Equity also operates branches in Santa Rosa, Petaluma and Larkspur, and has 69 retail branch offices in the western U.S.
