[quote=gdcox]Request. Please don’t post any data including refinancings. It has no place in this section of the forums. Application for home purchase is the only useful statistic.[/quote]
The extent that people can or cannot refinance significantly affects the dynamics and impact of mortgage resets. Mortgage resets are often cited as a source for a new wave of foreclosures. This certainly impacts housing.
If refinance applications are declining in a period of lower interest rates, it can signal capitulation or an exhaustion of options for homeowners underwater.
