"driven by a robust rebound in home refinancing"
LOL! Deeper and deeper in debt while interest rates are rising.
LOL! Deeper and deeper in debt while interest rates are rising.
Actually, there's quite a lot of refinancing going on right now - out of ARMs and into fixed rate mortgages, which remain quite low by historical standards.
"LOL! Deeper and deeper in debt while interest rates are rising."
My thoughts exactly. I guess a lot of people "need a little extra" for the holidays. Note to those who do: If you have to refinance your house for current expenses, you might want to consider a new strategy
"Deeper and deeper in debt while interest rates are rising."
Rates rose until late November on inflation fears, and then fell back from nearly 6.25% to around 5.75%, which is the rate at which you can refi now, if you do your homework and shop around for the best deal. The upward trend looks to have plateaued for now, based upon good reports on inflation. If fuel prices take off again, that would change the outlook and set the stage for renewed increases in mortgage rates, but for now they're pretty stable at just below 6%.