Refinance News

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.

Last Thursday, the average rate on the 30 yr fixed mortgage fell to 4.61%. That's down from 4.63% and the lowest level since mid-December.

The average rate on the 15 year fixed mortgage, a popular refinance option, slipped to 3.80% from 3.82%. That is the lowest point since late November for a 15 yr fixed mortgage rate.

Homeowners and first time buyers should consider refinancing or obtaining a mortgage before rates increase. Contact your mortgage professional to see what make sense for your situation.

Mortgage rates continue to climb to their 5 month high as investors sell treasuries. This past week rates increased .15% to 4.61% on the average 30 year mortgage. The previous 30 year average was 4.46%. Many borrowers that haven't taken advantage of these records low rates are still scrambling to qualify for a mortgage. Borrowers should speak with their mortgage professional to see if they can qualify and whether they are able to save money refinancing their present mortgage.

30 year mortgage rates drop to a new low of 4.57%.  This may spark the housing market and an increase in refinance applications. Homeowners and home buyers may have the ability to receive some of the lowest rates in history.

Current mortgage rates are close to all time lows. This is a great opportunity for borrowers and potential home owners to refinance or purchase a new home. Low financing rates can save borrowers thousands of dollars over the life of the loan. The average 30 year mortgage rates were 4.78% this week. Thats just a tad above the all time low 30 year mortgage rate of 4.71%.

You should contact a mortgage professional to see what rate you qualify for:

Texas Mortgage Quote
Florida Mortgage Quote
St Petersburg Mortgage Quote
North Carolina Mortgage Quote
Miami Mortgage Quote
Oklahoma Mortgage Quote
Georgia Mortgage Quote
Long Island Mortgage Quote

Rates have dropped to near lows for the year. Many people predicited rates to continue to rise however this may be a great opportunity to refinance. Contact your mortgage professional to see if there is an opportunity for you to save money. Let them share the numbers with you so you can determine if the cost of refinancing make sense for you. Typically, after refinancing there is a specific point in time where a borrower begins to save money subtracting the cost of the transaction.

Good luck and don't forget to take advantage of these great rates!

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