1.   Steady rates would diminish the risk that ever-more homeowners will refinance the mortgages underlying the bonds.

2.   Americans are taking advantage of the opportunity by refinancing their mortgages in record numbers.

3.   And he never dreamed that the money many homeowners saved by refinancing their mortgages would be spent so lavishly on consumer goods.

4.   And lower interest rates in the past few years have allowed families to refinance their mortgages, cutting their expenses further, he said.

5.   And while that same consideration applies when a co-op corporation is refinancing the mortgage on its building, other factors often come into play.

6.   Applications to refinance mortgages are already rising, according to the Mortgage Bankers Association.

7.   As a result, Harrison said, when a mortgage is refinanced, the refinancing is almost always a brand new loan.

8.   As a result, more consumers have been buying homes or refinancing existing mortgages.

9.   As for consumer spending, they pointed to homeowners who are refinancing mortgages and borrowing against their equity in order to finance other purchases.

10.   As rates fall, homeowners refinance mortgages.