Mortgage Refinance News

Refinancing to an Interest Only Mortgage Loan

With today’s fluctuating economy, many people are turning to an interest only mortgage loan refinance. Borrowers that make payments on this type of loan have the benefit of only paying the interest charges on the loan for a specified period of time; this makes their payments stay at a minimum and very affordable amount…
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Rates are Extremely Low

Over the past year mortgage interest rates have fallen to their lowest point in decades. This has made refinancing a mortgage or taking out a new mortgage to buy a home a very affordable option for many people. While current mortgage rates are extremely low compared to the historical average, they could change in…
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B of A Rates are still low

For the prospective home buyer or current home owner looking to refinance, the B of A mortgage rates are still low with the majority of mortgage lenders attempting to work with government economic advisers to stimulate the economy. The good news is that current 30 year mortgage rates as a benchmark are also low…
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Jumbo Loan Rates: Unchanged in Late April

Jumbo mortgage rates remain at 5.375% for 30-year loans, while jumbo loan rates are at 5.000% for 15-year loans. Jumbo mortgage rates on 5/1 ARM loans are now at 3.875%. Current mortgage interest rates continue to reflect low demand in an uncertain housing market as well as a tighter than normal credit market. FHA…
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Mortgage Refinance – Interest Only ARM

Homeowners who are looking to refinance their current mortgages might want to consider an Interest Only Adjustable Rate Mortgage (ARM) option. Interest Only ARM mortgages are a kind of mortgage in which the borrower repays only the calculated interest rate on the loan amount for a fixed, pre-determined period of time. With such an…
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15 Year Mortgage Rates: How to Save Money

Finding the lowest mortgage rate is the most desirable option for any consumer, regardless of the economical times. While shopping around for the right lender and comparing offers are always a cornerstone of obtaining this, there is another option that can help reduce costs for the buyer even further. The 15 year mortgage rates…
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Mortgage Refinance – Is it time?

With the average homeowner refinancing 4 times over the course of their loan. Is it time?
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Mortgage Rates: Moving Somewhat Lower

As February moves into its final full week interest rates generally tracked lower, although the benchmark 30-year fixed mortgage interest rate remained steady at 4.750%. The 15-year fixed mortgage interest rate was at 4.000%, a decrease of .125%, while that of the 5/1 ARM loan remained at 3.250%. Borrowers with good credit continue to…
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Mortgage Rates: Steady Overnight

As February continues into its final week interest rates are surprisingly steady despite news reports of Mideast strife. The benchmark 30-year fixed mortgage interest rate remains steady at 4.750%. The 15-year fixed mortgage interest rate is at 4.000%, while that of the 5/1 ARM loan remains at 3.250%. Borrowers with good credit continue to…
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Mortgage Rates: A Continued Steady Course

A little beyond the month of February’s midpoint, lenders’ mortgage rates remain broadly steady despite some minor volatility. The benchmark 30-year fixed mortgage interest rate is holding at 4.750%. The 15-year fixed mortgage interest rate is at 4.125% and that of the 5/1 ARM loan remains at 3.250%. Those borrowers with good credit continue…
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