New Refinance Boomlet May Lift Economy

Friday, January 23rd, 2009

Record low mortgage rates are providing a small measure of stimulus to the troubled U.S. economy as borrowers scramble to refinance their home loans--a move that frees up cash to spend on other items. The Mortgage Bankers Association reports that the volume of loan applications has soared since November to its highest level in six years.

Posted in: Mortgage Rates, U.S. Economy
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