The current historically low interest rates has definitely engaged a lot of current home owners to re-finance their homes. Good for them and as it is said... "more power to them" !!
But on the other hand... the low rates, has aroused the curiosity of a lot more potential first time buyers to get further involved with their lenders to see if they can somehow get "pre-approved" for a home loan.
Adding to that: those who are current home owners now have the possibility of buying and moving into a larger home and they could potentially end-up with their new monthly mortgage payments being "equal to" or "lesser than" what their current mortgage is on their smaller home.
By now you are pr...