Here recently anybody who’s read any of the publications or online blogs knows that almost every single writer is predicting doom and gloom for real estate.

Our local paper recently had a couple articles that could make someone think ‘wow don’t ever buy real estate’.  One of the headlines said “Luxury Buyers Don’t Purchase”.

However, I did read an article that was very interesting the other day on Yahoo talking about how the new refinancing boom will help the real estate market.

Lower Rates

The article said “the Treasury and the Federal Reserve have created an environment which makes this development almost impossible to avoid.”  It also went on the state “it is quite likely the country is about to enter a new mortgage refinance boom”. 

Local Lenders

By talking to local lenders we all know they have been barraged in the last two weeks with people wanting to refinance. 

Some data I saw from the Mortgage Bankers Association said they had the highest number of applications for loans since July 2003.

What all this means is that obviously when people refinance their rates are lower which means they can afford more houses which means this may be “the ray of sunshine that we’ve been looking for”.