Mortgage Refinancing Boom May Be Slowing, But New Housing Still Strong.
By John Taylor, Omaha World-Herald, Neb. Knight Ridder/Tribune Business News
Nov. 29--The home refinancing boom appears to have ended, but the housing market remains strong, with the industry headed toward another record year, according to individuals and institutions in the business.
Freddie Mac, the nation's second-biggest buyer of mortgages, said the refinance share of new mortgage applications has slipped to about 50 percent and will continue to decline, settling in at 36 percent for all of 2004 .
Even with the decline, however, refinancin
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