The only work I have been getting is refi's from people with a ton of debt.
They are consolidating loans, CCs, car payments, pulling out some cash, and having those debts paid off. 5.5% is better than the boatload of CC debt some of these people are carrying with high interest, only getting higher. Home values are really high, people have equity they are pulling out, and our only bright light right now.
This is the first time I can't really predict the future. I know this industry is a roller coaster, but unless things majorly turn around, I don't see anyone losing their great rates over the past 10 years unless absolutely necessary carrying other debt that is eating away at them to pay off. Adjustable rates? Interest-only loans? I think these will be coming back again. |
