Refinance rates, the basic primer
Marry that with increasing job loss and uneasiness about the current economy, and many buyers may not jump in spite of low rates. Much of the media focus seems to be how to get buyers to start chipping away at the large inventory of houses sitting on the market. There is not, however, much talk about the majority of homeowners in this country. There are plenty of homeowners that pay their mortgages and have equity in their homes. Those homeowners could benefit from lower interest rates, as many will want to stay in their homes and refinance.