With national home sales up 2% in February, we are optimistic that new and existing home sales will continue to increase in the coming months due to historically low interest rates, affordable homes, and the first time homebuyer $8000 tax credit. Fixed rates from 4.5% to 5.25% are incredible. All across America consumers are realizing how low rates really are and are taking advantage of them.

Our refinance activity is very robust and while realtors may not see a direct benefit from refinance, they absolutely will see an indirect benefit. When thousands of homeowners get great low rates, it lowers their monthly bills which stabilize housing by making it more affordable. This helps put a floor under housing prices. These same homeowners are also now able to spend the money they save on mortgage payments, anywhere from $100 to $800 on average, on other goods and services which helps to stimulate the economy.