January 18, 2008
Tess Vigeland: And that means we could be headed for a surge in refinancing. Of course, that's assuming that banks will loan out the money, what with the credit crunch and all.Bostic says the low rates won't necessarily translate into easy credit:
Bostic: It used to be fairly straightforward to get a refinance loan in this sort of attractive environment, but the credit crunch means that it will be much more difficult to do this for borrowers and homebuyers across the country.