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Is ReFi activity slowing?

Posted By Barry Ritholtz On June 10, 2005 @ 10:00 am In Fixed Income/Interest Rates,Real Estate | Comments Disabled

Prior to July 2003, mortgage refinancing activity seemed to track movements in interest rates fairly closely. Since then, however, homeowners have been less than responsive.

Refirate [1]

Have we hit the limits to growth in the refi market? If so, it may be another hint that the home-as-ATM phenomenon has come to an end.

The real question is whether homeowners are scaling back of their own accord — or whether circumstances have forced them to.

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[1] Image: http://bigpicture.typepad.com/.shared/image.html?/photos/uncategorized/refirate.jpg

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