http://www.mortgagenewsdaily.com/1262006_Interest_Rates.asp
Refi's have been 50.1% of all loan originations. This is certainly a result of low interest rates. But the kicker is all of those people just now realizing that they have an opportunity to get out of those exotic mortgages they got into a while back.
Home equity loans shoud be up too. As people realize that they can consolidate those holiday bills from the credit cards to a low interest and tax eductible pmt!!
Hopefully they can help spread the good word about low rates to potential buyers :)
Thanks Tom!
It's going to be like this for the next 12-14 months, Tom. the difference is thatthe pros will get the busines and the hangers on will be extinct in a year. Every deal has some hair on it.
Go get yours!