Archive for October 1st, 2009
Streamline Refinance with Low Mortgage Rates
Posted by: | CommentsFreddie Mac reported that interest rate averages for home mortgage loans dipped to 4.86% for thirty-year terms. Streamline refinance activity is on the riise because this is the lowest mortgage rates reported by FHA and VA mortgage lenders in quite a while. Fifteen year mortgage rates declined to record levels at 4.36%. Borrowers are scrambling to refinance their adjustable rate mortgages because many will save hundreds of dollars each month simply by refinancing and locking into a new fixed rate mortgage.
FHA streamline possibilities look great for borrowers who already have existing FHA home loans. If you are a veteran that has a VA home loan above 5.25%, we strongly recommend talking with a VA lender about refinancing into a great VA mortgage that will save you money every month. Mortgage rates can’t get much lower, so wake up and talk to a loan officer about refinancing today!
