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Strategies & Market Trends : Zeev's Turnips - No Politics
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To: LTK007 who wrote (2831)11/2/2001 8:49:34 PM
From: Rashomon  Read Replies (1) of 99280
 
The lower mortgage rates will increase money available to consumers -- as long as housing values hold up. For a personal example, I have a fixed 7 1/8 inch loan on my house, and a second taken for remodeling at 8. I hadn't been planning on refinancing, but now it appears it may be very attractive to fold both loans into a 15-year, zero-point fixed-rate at not too much above 6 percent. In that case, my net funds available for consumption don't change much, but my savings rate certainly increases fairly dramatically. Others may make different choices, but as long as refinancing is possible because of positive equity, refinancing will put more money in the hands of consumers. Savings or consumption will be their choice.
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