Upper Saddle River, NJ, Nov. 15—With mortgage rates dropping by the day, Americans are taking full advantage and refinancing their homes in record numbers. David Leonhardt, in the business section of the November 2nd edition of The New York Times, reported, "approximately one million people have applied to refinance their homes since September 11th, roughly six times as many as in the comparable period last year.”

"After refinancing, many homeowners find themselves saving anywhere from $150 to $200 a month, leaving them with extra money for home improvements and other purchases," said Laura Armstrong, spokesperson for the Mortgage Bankers Association.

"Recently, we had customers who just refinanced their home because they were able to lower their percentage rate from 9% to 6%," said Paul Doelling, president & CEO, Doelling Paint & Wallpaper in Valparaiso, Indiana, who carries Hunter Douglas window coverings. "The customer indicated that they had wanted to update their home for a long time, and now they finally have the money to make those improvements."

One of the most effective ways to update the home is to refresh a certain room or element of an interior which has the potential to increase the value of the home, and make the homeowner feel better about where they live. "With Norman Rockwell images appearing in full page ads for The New York Times, there’s been an obvious shift in consumer attitudes," said Jim Mathews, vice president of marketing for leading window covering manufacturer Hunter Douglas Window Fashions. "People are traveling less and spending more time at home, turning inward with an eye on updating home interiors without investing a lot of time or substantial amounts of money."

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