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Cashing in on lower interest rates
Lenders field more calls for refinancing
On an average day, Gregory Frank's Woodbury mortgage brokerage would get 20 new inquiries, but lately phones and e-mails have been tied up with about 100 new inquiries a day.
Yesterday, he reversed an interest rate lock, from 6.5 percent to 6 1/8 percent, when a client set to close Friday on a $1.2-million loan asked him to renegotiate with the bank.
"My loan officers are very active...
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