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Refinancing At 2 Year Low.(Brief article)
New York -- When the average 30-year mortgage rate reached 6.37% in early March, its highest level since September 2003, that robbed more homeowners of a rate incentive to refinance. The benchmark rate remained above 6.3% for the rest of the month.
But rates at that level may not be high enough to deflate home prices, Freddie Mac economist Amy Crews Cutts told National Mortgage News. Freddie Mac predicts that nationally, home prices will rise 8.6% this year, down from 13% last year. Moreover, while Freddie Mac expects home sales to dip from last year's record volume, the pace of sales will remain strong.
And even refinancing will continue to see demand from homeowners seeking to tap into their equity or replace adjustable-rate mortgages with fixed-rate products.
About $400 billion of first lien ARMs will reset this year, and that could ...
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- News wire article from: Mortgage Line December 19, 2005 700+ words
...Seventy-two percent of Freddie Mac-owned loans that were refinanced...mortgage balances, according to Freddie Mac's latest refinance report...submitted for refis," said Amy Crews Cutts, Freddie Mac deputy chief economist, in the...
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- Magazine article from: Origination News December 1, 2005 700+ words
...Seventy-two percent of Freddie Mac-owned loans that were refinanced...mortgage balances, according to Freddie Mac's latest refinance report...submitted for refis," said Amy Crews Cutts, Freddie Mac deputy chief economist, in the...
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- Magazine article from: Origination News August 1, 2008 700+ words
...VA -- Sixty-six percent of Freddie Mac-owned loans that were refinanced...2005," said Frank Nothaft, Freddie Mac vice president and chief economist...six months of 2004," said Amy Crews Cutts, Freddie Mac deputy chief economist. Freddie...
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- News wire article from: Mortgage Line August 25, 2008 700+ words
...VA -- Sixty-six percent of Freddie Mac-owned loans that were refinanced...2005," said Frank Nothaft, Freddie Mac vice president and chief economist...six months of 2004," said Amy Crews Cutts, Freddie Mac deputy chief economist. Freddie...