Slide background
Slide background
Slide background
Slide background
Slide background
Slide background
Slide background

Data Shows 1 in 5 Homeowners Will Refinance Within Year

October 11th, 2012 Written By Carol Pawley

New data cited by Bloomberg Businessweek shows the that efforts of the Fed and the Obama Administration to mend the housing market are making a difference — keeping interest rates at record lows and boosting refinancing applications. Within the next year more than one in five borrowers will restructure their home loan. The ones most likely to refinance have at lest 20% equity in their home. According to Lender Processing Services data analyzed by Businessweek an estimated one in three will lower their interest rates over the next year if the Reserve holds its course.

Businessweek reported that that those still under water, the Obama administration’s Home Affordable Refinance Program has allowed for a 65 percent increase since the start of 2012 in the refinancing for those that own at least 20 more than their home’s value.

Chairman of the Federal Reserve Ben Bernanke said “You get more benefit when people buy homes. … It’s the purchases of new homes that generate the construction activity, the furnishing, all those things that help the economy grow.”

Click Here to Get Miami Real Estate and Beyond by Carol Pawley delivered by email

Great to have you on my site! Seeking to sell or buy property in Coconut Grove, Coral Gables, or anywhere in Miami? I can assist you. Real estate is my area of expertise and Miami-Dade the place I grew up. I know the communities, the schools, the culture, and the business of real estate. I’ve consistently ranked in the top 1% of my field, locally and nationally. I’d love to have the opportunity to introduce myself and discuss your real estate needs. Let’s connect: PH 305-992-6188,EMAIL: carolapawley@gmail.com

Leave a Reply

  • Logo
  • Logo
  • Logo
  • Logo
  • Logo
  • Logo