Rates Hit New Record Lows but Can You Refinance?

According to recent Freddie Mac numbers, mortgage rates for both the 30 year and 15 year have hit records lows. Rates on the 30 year dropped to 3.75% and rates on the 15 year decreased to 2.97%.

However, many people are finding it difficult to refinance. Guidelines have tighten up and lenders have become very restrictive on who qualifies for a mortgage. Just because its difficult doesn't mean its impossible to refinance. Although one bank may have turned you down doesn't mean another will. Here is a list of some mortgage companies and mortgage brokers that have been able to help people in difficult situations.

IFG Mortgage Corp - Pennsylvania Mortgage Company
Ross Home Loans - Miami Florida Mortgage Company
Downs Financial - Colorado Mortgage Company
North Florida Mortgage - Jacksonville Mortgage Company

Don't worry if you don't see a mortgage company that's in your area. Many of these companies service multiple states. Also, feel free to contact us and we can put you in touch with reputable mortgage companies that can assist you.

Mortgage Rates Hit All Time Low!!!

Average rates for 30-year and 15-year fixed mortgages fell to record lows for a third straight week. According to Freddie Mac, the average rate on 30-year loans dipped to 3.79% decreasing 3.83% compared to last week. These are lowest mortgage rates since long term mortgage loans began in the 1950s.

The decline has made home buying and ownership more affordable spurring home sales and refinance applications. Speak with a local mortgage professional to get an understanding of what rate you qualify for.