Mortgage Refinance Rates
ByMortgage rates remain low and the housing crisis has caused home prices to drop to a more affordable level. The Fed cannot continue to lower interest rates and most experts agree that as soon as we say real signs of the economy turning, the Fed will start raising key interest rates.
What does the Fed raising rates mean to the average American borrower? It means that mortgage lenders and banks will begin to hike the mortgage rates.
Right now a 5% 30-year year fixed rate mortgage is a reality with FHA home loans, conventional and VA mortgages. When the Fed starts jacking the rates, mortgage refinancing rates will rise as the cost of borrowing could sky-rocket.
Refinance while the rates are low. If there are opportunities now for you to save money, get off your but and refinance your mortgage. If you are considering buying a home, discuss your eligibility with a loan officer and find a house to make an offer on. Now is the time to maximize home financing with affordable mortgage rates that will save you money.
