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Steve came across a disturbing article from CNBC about mortgage refinance demands increasing by six percent as rates drop to the lowest level since September. Rates have gone down from over seven percent to about six and a quarter percent, which is still not considered great. The increase in refinances may indicate a concerning trend in the housing market. Steve predicts a similar scenario to the last real estate crash, where desperate homeowners are trying to take advantage of their equity before it's too late.
