Well at least for homeowners that need to lower their interest rates.  With the Fed injecting money into Mortgage Backed Securities we will see the interest rates improve.  Yesterday we saw a 1/2 pt drop in conforming and Government loan rates.  True no cost refinance rates were as low as 6% on a 30 year Fixed.

A True no cost refinance does not raise the principal balance on the mortgage. 

Ron Yarbrough