Although mortgage rates have risen in the last two weeks, they are still below last year's annual average of about 7 percent and well below 2000's average of 8 percent, ... The current rising rates will dull the edge of the refinancing market, but there remain homeowners who have put off refinancing for one reason or another who may now rush to their lender to take advantage of current rates.
Quotes about refinancing (16 Quotes)
In areas where values are rising by 15 to 20 percent in a year, they don't care about the principal as much. After a few years, they are refinancing anyway.
Homeowners who refinanced their mortgages took out cash and reduced their monthly payments at the same time. Much of the cash obtained by refinancing was spent on consumer durables, home improvements and the like.
On completion of the refinancing, liquidity will remain at an adequate level, with total cash balances estimated to remain relatively unchanged from the year-end 2005 balance of US3.0 billion.
The average loan-to-value ratio after refinancing is still 70 percent.
Doyle's second selection is Fidelity National Corp. Basically when anyone buys a home they need to get title insurance. And this company is the dominant player in that business, ... And it is kind of what I consider printing money. It trades at about seven or eight times earnings. I think a lot of people doing refinancing and a lot of business being generated.
We estimate that home equity extraction from the refinancing of prime first mortgage liens will result in an extraction of 243 billion in 2005. However, equity extraction in 2006 will likely fall sharply, by a little more than half to about 117 billion, as we expect lower refinance activity and slower house-price appreciation.
The improvement came in spite of absorbing additional administrative costs related to corporate reorganization, a bank refinancing, and litigation and severance costs which we consider to be one-time costs unique to the period.
In spite of the sluggishness in the economy, nearly 25 percent of all mortgages were refinanced in 2002, saving those homeowners an average 1,200 per year to spend or save as they see fit, ... And with interest rates as low as they currently are, refinancing will continue to be a viable option for some.
Micron's earnings per share did benefit by 5 cents from a one-time refinancing of a joint venture arrangement. Even excluding this one-time gain, results were outstanding. Sales were 1.79 billion, compared with sales of 864 million a year ago.
The thing that helped the economy so much was a drop in interest rates, which meant lower mortgage rates, which meant consumers have been able to tap the wealth in their homes by refinancing and taking equity out of their homes. With rates having backed up so sharply, refinancing is not such a bargain any more.
I agree with Gross. It's been refinancing of mortgages -- basically eating into one's seed corn -- that has been sustaining consumer spending. When that peters out, it's not clear what's going to kick in.
Duisenberg gave the strongest possible hint that the ECB is on the verge of raising its refinancing rate. The comments offer a clear pointer to tightening action.
Well, you know, we've got a lot of stimulus in the economy already from the tax cut, from the lowered interest rates, and also from the refinancing of mortgages.
Everyone in the pool business is very busy, ... People are refinancing and adding pools to existing homes, and the majority of new homes have pools installed on new construction.
With mortgage rates continuing to slip, a new wave of refinancing has appeared. According to the Mortgage Bankers Association of America, applications for refinance jumped 15 percent last week, near the record high set in March. And according to Freddie Mac's quarterly refinance review, the average age of a refinanced loan fell to 1.9 years in the first quarter of this year.