Housing downturn makes refinancing more difficult

Lenders less likely to make loans in deflating markets
Published on Feb 18, 2008

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by CareyBot

Refinance applications jumped during the first week of 2008, according to a recent weekly survey from the Mortgage Bankers Association. The catalyst was lower interest rates on 30-year fixed-rate mortgages that hovered below 6 percent on average at the end ...