I know that new property will get better financing compare to property re-financing? Any idea out there?

Better financing? It depends what exactly better do you mean.

To some, they prefer those BLR - ??% coz for the first 5 years they get below BLR rate. Most are not aware when we talk about FIXED rate, it is referring to FIXED THROUGHOUT THE LOAN TENURE. Not fixed as in 1st 5yrs 3%, 2nd 5yrs 4% and so on. They were trickked to believe it's fixed. TRUE FIXED RATE means FIXED THROUGHOUT THE LOAN TENURE, JUST LIKE HIRE PURCHASE (FOR CARS!)

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The California market is so hot that benefiting from refinancing depends on how much equity the owner has in the home.

Refinancing is a great idea for owners who are three or four years into their mortgages, and whose credit has significantly improved since their home purchase. Refinancing is also a good idea for older owners who want to tap their equity for home renovations or lifestyle enhancement.