Ask Linda? Financing Commentary - Volume 3

Are you still on the fence for a Refinance?

Are you still on the fence for a Refinance? Are you a homeowner considering a refinance but still unclear of the timing? Take a look at the mortgage rate statistics. Today the average 30 year fixed mortgage is still about 6%. - Looking at the mortgage rate graph, you can see that 6% is still one lowest mortgage rates in the last hundred years.

According to a report from Freddie Mac, refinancing will continue to see demand from homeowners seeking to tap into their equity or replace adjustable-rate mortgages. In addition, the survey cited that home prices are expected to rise 8.6% this year. Home values have not begun to decrease across the country yet.

So, if you're still weighing your mortgage options, consider the following loan options. I suggest a refinance if your mortgage rate is over 7% or if you have a mortgage that has an adjustable rate. If you already have a fixed rate 6.5% or less, than get a second mortgage if you need cash out.

By Lynda Nelms,
Sr. Loan Officer & Financial Consultant

See More Featured Articles by Lynda Nelms

When is the Best Time for a Home Equity Loan?
By Lynda Nelms

Refinance First or Take Out a Second Mortgage?
By Lynda Nelms

Benefits and Risks of the 125% Home Equity Loan
By Lynda Nelms

Preferred Loan Type
Property Type
Property Value
Credit Rating



BD Nationwide Mortgage, 515 Encinitas Blvd. Ste 100, Encinitas, California 92024
Please be aware that this is not an advertisement for credit as defined by paragraph 226.24 of regulation Z. Nothing on this site contains an offer to make a specific home loan for any purpose with any specific terms. This is a web-site and no loans can be guaranteed as loans and rates are subject to change. Nationwide is affiliated with national lenders and a federally chartered bank located in Maryland licensed to offer home loans in all 50 states. Copyright 2001-2010 and Beyond, Nationwide Mortgage Loans - is a website and cannot make loans. All rights reserved.