Compare Mortgage Refinance Rates
ByMortgage rates fell to a record-low last week, with the rate of a 30-year fixed loan dipping to 4.69 %. Borrowers who have been waiting for the best time to refinance their home find themselves in a good position.
Is Your Home Mortgage Rate Higher than 5%?
Some economists anticipate that mortgage refinance rates will remain low for at least another six months. However, if you are considering mortgage refinancing and you qualify under the 2010 refinance guidelines then you should not wait.
The current mortgage refinance rates are the lowest they have been since 1971 so the chances of them getting lower are slim. The chances of mortgage lenders tightening home refinance guidelines are much greater. If you are eligible to refinance today, take advantage of these record low interest rates and lower your mortgage payment.
Many home finance analysts feared how the mortgage market would once the tax credit for homebuyers expired on April 30th. A recent published report released earlier this week indicated that new home sales plunged nearly 33% last month. Compare lenders so you can get the best mortgage refinance rates online!
Let’s compare mortgage refinance rates: A year ago, the average mortgage refinance rate was 5.22% and 10 years ago, people were refinancing at 8.15%. Today, the average 30-year mortgage rate is 4.675% and the average 10-year mortgage is now at 3.875%. The banks continue to extend low mortgage rates because to the instability in the market and the European debt crisis.
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