I was reading online the other day about the housing market in the US and how it has not made a come back as quickly as hoped by financial analyst this year. I guess here in AZ the housing market hit a slump about 18 months ago and the number of people refinancing also declined. This made me think of all those other states that are probably also experiencing a slow comeback of the real estate market.
I know in California the value of real estate continues to climb, while California mortgage refinance numbers are low. I have a friend that lives in the San Francisco Bay area. She and her husband are in the process of trying to have a baby and just refinanced their home to help pay for the IVF treatment. However, she did not cash out all the equity in her house because between what she paid for it and what it was worth was a huge number.
I can’t imagine what is going to happen with the going mortgage rates, but I’m glad that I have a house that I am somewhat happy with and that I can stay in for a long time if needed.
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