Mortgage refinancing and much much more
It was the most drastic weekly rate decrease in almost 30 years. There are plans for the Treasury Department to lower rates to 4. 5 percent for those purchasing homes, and may extend those rates to homeowners wishing to refinance. Many homeowners are jumping on the bandwagon to refinance. It was reported the week after Thanksgiving that applications to refinance mortgages were up 200 percent from the week prior.