The Real Deal New York

From the June issue: While many potential buyers of residential real estate in New York City
are waiting on the sidelines, expecting prices to fall further, the
plunge of interest rates to historical lows has sparked an explosion in
mortgage refinancing.
“We are definitely seeing tremendous interest in refinancing,” said
Brooke Jacob, CEO of Everest Equity in Suffern, N.Y. “Anybody with an
open loan balance is trying to do it. Whether they own a unit in a
condo or a co-op, whether it’s a townhouse in an outer borough, a
single-family home, an apartment complex or any real estate, when
interest rates drop, you will see an influx of refinancing. Demand is
huge.”