Mortgage loans A tutorial
Those homeowners are hoping to take advantage of the lower rates before they go up again. There have been so many applications for mortgage refinancing that some analysts in the housing sector say that it is causing a tiny boom in real estate. They claim the boom would be bigger, if it were not for decreases in home values and stricter lending standards. Some homeowners no longer have enough equity to qualify for mortgage refinancing, due to lower home values. In Ventura County in California, for example, it is estimated that of the properties purchased there within the last five years, about 40 percent are now worth less than their purchase prices.