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The biggest surprise this summer is the lowering of interest rates across the board. In February 2010, all the Wall Street financial experts were expecting interest rates to increase after March 2010. This was due by the withdrawal of the Federal Reserve from purchasing Treasury bonds. And guest what happened, by late June, interest rates headed downward and all the financial experts were proved wrong.

The increase of 10 year Treasury Bond purchases has lowered the yield greatly, thus, lowering of rates. The main reason for the increase in bond purchases is basically the fear in the financial markets about the recession.

The since the end of the $8,000 buyers credit in April of 2010, homes sales volume have declined because there is just no incentive for home buyers now. The silver lining in the recent buyers credit is that the activity increased home prices in Hawaii, therefore, property values are much higher today that last year this time.

This is a perfect storm for refinance borrowers, historic low interest rates combined with higher residential values. It just does not get any better than this for homeowners.

If you always thought that you missed out on the refinance boom of 2009, interest rates are much lower and cheaper in the summer of 2010.  Do not delay, start your refinance process now.