Monday, 26 January 2009
With a drop in mortgage interest rates below 5%, homeowners across the nation are beginning to refinace their homes keeping banks and mortgage companies alive during this economic housing downturn. The refinance activity is putting cash back into homeowners pockets as well as lowering payments so those financial strapped homeowners can thrwart the threat of foreclosure. Fannie Mae chief economist Doug Duncan says about 50% of those applying to refinance their mortgage are getting approved. This is down from the height of the real estate market boom where almost 70% of those who applied were approved.
Mary Jean Agostini, CCIM,CRS,CRB
Realty 3, Carroll & Agostini Realtors
1201 Farmington Avenue
Berlin, Ct. 06037
www.mjagostini.com / mjagostini@r3ca.com
860 828 3230/860 995 9665
"Servicing Clients Throughout Central Connecticut for over 22 years!"
"Selling a home every 6 days!"
