Mortgage calculator A tutorial
A stimulus plan that only focuses on home buyers misses a chance to encourage current homeowners to help kick start the sluggish real estate sector. Homeowners approved for a refinance usually have excellent payment histories, good credit scores and are an asset to the economy. A good number of consumers looking to refinance are not willing to risk that the rates increase. A report from the Mortgage Bankers Association indicated a 200 percent increase for refinance applications the last week of November. Unfortunately, fewer applications are being approved.