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POPSHome Buying in 2009 We all know that mortgage interest rates have drastically declined in the last 8 weeks. We also know that the value of homes has halved themselves in many markets with some markets being down over 70%. With that knowledge, it is a great time to buy a home and if you already have one, refinancing is the best option, correct? Maybe not; there are more things to consider then just the falling mortgage rates and home prices.
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POPSRefinancing Tips For 2009 So, lenders are not apt to move as quickly or as far down on rates as purchasers of mortgages would like. But, if the Fed keeps the overnight rate low, the market will (eventually) prevail. Sometime in the coming months, banks will be eager to do business, and rates will soften as something resembling competition kicks in.