"refi fiz is non-existent." Yes, Marilyn, for the most part you are correct. Most consumers are not going for the "traditional" refi (i.e. to lower interest rate). What many of my high-income signers are getting is a HELOC -- considered a refi but actually shows up as a 2nd mortgage (or first mortgage if property is free and clear). I have one of these scheduled for tomorrow morning. Borrower is a financial advisor.
I'm also seeing purchases but not necessarily for primary residence. Had one last night that Mr. B is currently with law enforcement; Mrs. B is a RN; he's planning to retire in 4 years; they're purchasing an investment property (to be used as air bnb) in TN. The plan is to purchase 1 a year for the next 4 years to supplement them after his retirement and she'll continue working for several more years. They said several of their friends are already doing this and it's working out well for them. Interest rate for this 30-year investment property loan = 8.625%.
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