ReFi Boom Starting?

Discussion in 'Economics' started by dougcs, Dec 5, 2008.

  1. FWIW-a friend who works at a very large title company told me earlier this week that they are seeing a 40-50% increase in ReFi's.

  2. TGregg


    Good thinking for many. Take out as big a loan as you can get on your house, then don't make any payments. Uncle Sam will be there to bail you out.

    Free money! Woo hoo! Why pay for your house if the taxpayers are ready to foot the bill?
  3. Are they giving out t-shirts? I like t-shirts.....
  4. TGregg


    Don't know. How many lobbyists does the Silk Screen Printing industry have?

    Man, talk about a growth industry. Is there any publicly traded lobbyist company? We could clean up!
  5. Is that a 40-50% increase in actual refis or applications?

    And what percentage of apps are getting approved these days?

    Screw the T-shirt. I want a pony.
  6. Just wait till Treasury sets rates at 4.5% and Fed bids the 30-year to 200!
  7. Rates are down and alot of 5/1 ARMS from booming 04 will have to refi in the next year..
    I don't see the mystery here..
  8. Mvic


  9. Yes, but that is after about a 50% decrease over the last 2 years - so a 50% increase from that dismal figure is still 25% less re-fi's than normal.

    Also, most are rate/term only, not cash out, because not many have much equity, so it won't help consumer spending much, just help more folks survive the downturn.

    Plus, many applications will fall out/not close due to too tough standards.

    (I am in real estate/mortgage industry, these are facts, FWIW)
  10. #10     Dec 7, 2008