Mortgages…now what??
Mortgage rates tumble to record low
Refinancing activity rises to highest level since boom year of 2003
 | Rates on 30-year fixed-rate mortgages fell to a record low for the second straight week, causing refinancing applications to surge to the highest level in more than five years, a month after the Federal Reserve pledged to channel billions to prop up the sinking U.S. housing market. While homeowners around the country are taking advantage of historically low rates to refinance their loans, the opportunity isn’t available to those with poor credit or little equity in their homes, and foreclosures are still likely to surge. |
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