Well, this refi "boom" is not like the last one. Why is it that only 30% of applications are leading to actual refinances? Two reasons: lack of equity and insufficient credit. I'll do a separate entry on this later in the week. But for now.... It's a good thing it is Tuesday, because it is time for my weekly industry post.
Click here to read the Real Estate Report - January 27, 2009.
Tuesday, January 27, 2009
Saturday, January 24, 2009
Where Have I Been? Read This...
Needless to say to many, but the past few weeks have been crazy. Some would call it a refi boom, and I guess that would be a generous depiction considering how hard it is to actually get a mortgage these days. Here is a great article from the Times that sums it up:
Costs and Tighter Rules Thwart Refinancings
By TARA SIEGEL BERNARD
Published: January 24, 2009
Interest rates are falling, but many potential borrowers may not qualify for the best rates.
Costs and Tighter Rules Thwart Refinancings
By TARA SIEGEL BERNARD
Published: January 24, 2009
Interest rates are falling, but many potential borrowers may not qualify for the best rates.
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