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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: russwinter who wrote (34155)6/8/2005 10:24:34 AM
From: loantech  Read Replies (1) of 110194
 
There has been a small pick up in refi's this past week in our office. But I do not know if borrowers are at the trough to get cash out as many would not get that good a deal to refinance IO loans at the current levels. We have seen these levels a couple of times this past year. It costs 4,000 or more to refi and the FNMA limit is around 342,000 or so, so no advantage to refi for the big jumbo customers at cost vs. current rate.
Tom
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