Bright days for Refinance – Seekers

- by Rachel Smirnoff

Bright days for Refinance - SeekersThe European debt crisis and the turbulent stock markets are turning out to be a ‘helping-hand’ for the American families looking for a refinance. Mortgage rates are edging to a record low. The average 30-year fixed-rate loan sank to 4.78 percent this week, the lowest this year and barely above the record of 4.71 percent set in December, last year.

Individuals looking for a refinance are queuing up in large numbers at mortgage lenders, all seeking a low rate for their refinance. Applications to refinance poured this week, reaching the highest in seven months. However, many of the refinance-seekers are holding back for even lower rates, but the only way to know the bottom is when it’s missed.

Some Analysts predict that this window of opportunity may close soon. Investors, due to uncertain environment and declining stock markets, had pounced on government securities. But, once they grow more confident about the stock market it wouldn’t take long to move out of bonds and back into stocks, which will automatically make the mortgage expensive.

Coming to the conclusion – Even though the mortgage is cheap these days, people are not opting for borrows to buy new homes. The number of loans being drawn to buy homes remained at its lowest in more than 13 years. First reason: the special tax credit for homebuyers expired last month. Another reason: after a large number of borrowers fell into defaults and foreclosures, banks needed borrowers to pay a down payment of around 3.5 percent and also to maintain a good credit rating.

The mortgage rates were to rise when the government ended the security-buying program, instead they fell because of fears that Greece would default on its debt. But, it is clear that the mortgage rates would go up once the investors start investing in stock markets, but how long would it take? Will the housing market get back on the ‘good old’ track?

Reference:

http://www.washingtonpost.com/wp-dyn/content/article/2010/05/27/AR2010052702002.html?hpid=sec-business

Tags: , , , , ,

82 Responses to “Bright days for Refinance – Seekers”

  1. DAVE says:


    CheapTabletsOnline.com. Canadian Health&Care.No prescription online pharmacy.Best quality drugs.Special Internet Prices. Low price pills. Order drugs online

    Buy:Viagra Professional.Viagra.Cialis Soft Tabs.Cialis Professional.Viagra Soft Tabs.Viagra Super Force.VPXL.Cialis.Propecia.Zithromax.Tramadol.Soma.Viagra Super Active+.Cialis Super Active+.Maxaman.Super Active ED Pack.Levitra….

  2. RAUL says:


    NEW FASHION store. Original designers collection at low prices!!! 20 % TO 70 % OFF. END OF SEASON SALE!!!

    BUY FASHION. TOP BRANDS: GUCCI, DOLCE&GABBANA, BURBERRY, DIESEL, ICEBERG, ROBERTO CAVALLI, EMPORIO ARMANI, VERSACE…

  3. TODD says:

    buy pure acai berry

    Buyno prescription…

  4. TERRANCE says:

    Abana

    Buywithout prescription…

  5. DARRELL says:

    actonel@adverse.reactions” rel=”nofollow”>…

    Buygeneric meds…

  6. SERGIO says:

    allopurinol@and.coumadin” rel=”nofollow”>…

    Buygeneric drugs…

  7. GUY says:

    avodart@in.usa” rel=”nofollow”>.

    Buyno prescription…

  8. JEROME says:

    ashwagandha@supplement.now” rel=”nofollow”>…

    Buygeneric meds…

  9. SIDNEY says:

    atarax@and.hives” rel=”nofollow”>.

    Buygeneric drugs…

  10. RAYMOND says:

    Cozaar@official.site” rel=”nofollow”>..

    Buynow it…

  11. CECIL says:

    Chantix@official.site” rel=”nofollow”>.

    Buydrugs without prescription…

  12. ENRIQUE says:

    generic@Cialis.now” rel=”nofollow”>.

    Buynow…

  13. DENNIS says:

    Vitamin@B.now” rel=”nofollow”>.

    Buygeneric drugs…

  14. JON says:

    < a href="http://my.gardenguides.com/members/buy-Tramadol? buy@tramadol.best.price.online

    Buyit now…

  15. SERGIO says:

    dicyclomine@and.imodium” rel=”nofollow”>…

    Buygeneric drugs…

  16. KIRK says:

    Depakote@official.site” rel=”nofollow”>…

    Buyit now…

  17. JESSE says:

    is@sun.pharmaceuticals.depakote.good.quality” rel=”nofollow”>.

    Buyno prescription…

  18. CURTIS says:

    depakote@classification.now” rel=”nofollow”>..

    Buygeneric drugs…

  19. TRACY says:

    side@effects.of.zyrtec.overdose” rel=”nofollow”>.

    Buygeneric meds…

  20. KEITH says:

    Voltaren

    Buygeneric drugs…

  21. MAX says:

    cats zanaflex

    Buydrugs without prescription…

  22. KENNETH says:

    Zaditor

    Buydrugs without prescription…

  23. SAM says:

    Yaz

    Buywithout prescription…

  24. DANIEL says:

    xopenex coupon

    Buyno prescription…

  25. EDWARD says:

    Yaz

    Buywithout prescription…

  26. TROY says:

    Zyrtec

    Buyit now…

  27. DONNIE says:

    yaz plan b

    Buydrugs without prescription…

  28. FERNANDO says:

    Rogaine

    Buyno prescription…

  29. AUSTIN says:

    risperdal and luvox loss of libido

    Buydrugs without prescription…

  30. ANDRE says:

    Seroquel

    Buywithout prescription…

  31. CLINTON says:

    Purim

    Buyit now…

  32. VIRGIL says:

    Synthroid

    Buywithout prescription…

  33. JEFF says:

    Zyprexa

    Buynow it…

  34. TYRONE says:

    Zyprexa

    Buyno prescription…

  35. LUIS says:

    Prozac

    Buygeneric meds…

  36. ALFREDO says:

    Reglan…

    Buywithout prescription…

  37. ADRIAN says:

    Pyridium@Pyridium.Pyridium” rel=”nofollow”>…

    Buygeneric meds…

  38. BRIAN says:

    Tylenol@Tylenol.Tylenol” rel=”nofollow”>…

    Buygeneric meds…

  39. JARED says:

    Topamax@Topamax.Topamax” rel=”nofollow”>.

    Buyit now…

  40. JIMMIE says:

    Prozac@Prozac.Prozac” rel=”nofollow”>…

    Buynow…

  41. FREDDIE says:

    Symbicort@Symbicort.Symbicort” rel=”nofollow”>…

    Buynow it…

  42. EARL says:

    Pulmicort@Pulmicort.Pulmicort” rel=”nofollow”>..

    Buyit now…

  43. ERIK says:

    Sleep@Tea.now” rel=”nofollow”>..

    Buyno prescription…

Leave a Reply