Home refinancing is one of the best opportunities for homeowners to cut housing expenses and save money with lower monthly payment. When executed properly, mortgage loan refinancing helps homeowners maximize tax deductions that may be in jeopardy as the Obama administration looks to redistribute wealth through various tax hike programs.
Many lenders are unclear as to how the reduced Fannie Mae, Freddie Mac and FHA loan limits will affect the jumbo refinancing market. Some loan companies will welcome the demand for higher jumbo mortgages at an affordable interest rate. Some mortgage analysts say it may cause jumbo lenders to raise non-conforming mortgage rates.