Many people have rushed to refinance their home loans after the Federal Reserve continued to lower rates. The WSJ reported a surge of 22.1% last week from the previous one while applications are up 70.7% year over year. Unfortunately, these are almost all from existing homes rather than financing for new home purchases, but it does represent people at least interacting again with the real estate financing sector. Is it time for you to refi? Well, rates are lower than they have ever been before...

From The WSJ:
Homeowners' applications to refinance loans surged again in the Mortgage Bankers Association's latest survey of filings, rising 22.1% last week from the previous one. According to the survey, refinancings accounted for 73% of the total number of mortgage applications filed during the week ended Friday, up from 66% the previous week. Applications for new mortgages to buy homes decreased by a seasonally adjusted 17.7% on a week-to-week basis. Overall, applications for mortgage loans rose a seasonally adjusted 7.5% last week, compared with the previous week. And applications rose 70.7% from the year earlier.