For discussion.......did anyone get a chance to read the article in the WSJ compliments of ALTA via email this morning?  Any thoughts? Any part of the country feeling this refi rush?

Homeowners Rush to Refinance at Boom-Era Levels
Wall Street Journal | April 23, 2009
With mortgage rates at historic lows, homeowners eager to lower their payments are rushing to refinance in numbers reminiscent of this decade's real-estate boom. The Mortgage Bankers Association said Wednesday that mortgage-refinance applications rose to almost triple their level a year ago. The average contract interest rate for 30-year, fixed-rate mortgages stood at 4.73%, down from more than 6% a year earlier. About 80% of all mortgage applications are for refinancing.