A Canadian-financed home-building venture is breathing life into a pair of stalled housing developments formerly owned by Sacramento home builder Reynen & Bardis Communities.

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As 2009 opens, the "refi" chase is on in neighborhoods across the country and across the region. This new suburban sport was launched by mortgage rates that in recent weeks have fallen to lows not seen in almost four decades, offering potential to shave millions of dollars in debt from Sacramento-area households.
Thirty-year fixed mortgage rates have fallen to 5 percent and below, prompting interest from homeowners in refinancing.
From June 2005 to June 2007, the region's top 10 mortgage lenders made 176,451 purchase, refinance and home equity loans in El Dorado, Placer, Sacramento, Sutter, Yolo and Yuba counties.
It's a notion long proposed to help stop foreclosures in areas like Sacramento: Let bankruptcy judges rewrite mortgages to reflect today's home values. But lenders have always objected.

To get us through the early part of this new year, let's get some perspective on what could be driving real estate matters in the weeks to come.

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