I remember 2007 like it was yesterday. Refinance, refinance, refinance. Everybody and their mom knew to refinance and they could. Lending guidelines were more lax than ever before. I remember talking to guys with credit scores in the mid 500’s, no assets, and not much equity in the property to begin who wanted to take out 50 grand at 100% financing and demanded a rate under 6% at the same time. If I couldn’t do it, that was my problem, they’d take their business elsewhere, and they could. Boy… Read more

Zillow.com reports in a press release this week refinance applications are up significantly since September spurred by historically low rates. 30 year fixed mortgage refinance rates below 5 percent are credited with boosting refinance application volume. Despite a up to $8,000 tax credit for new home buyer’s securing financing with an FHA loan mortgage refinance applications make up over 50 percent of all loan applications. The Mortgage Banker’s Association said this week mortgage… Read more

The 10 year treasury yield, regarded as the best indicator for 30 year fixed mortgage refinance rates, has declined 5 straight weeks . The yield matched it’s lowest level in 2 months Friday when for a moment it dipped to 3.295 before rising to 3.343 where it closed. Mortgage Refinance Rates Last Week Freddie Mac reported conforming 30 year fixed mortgage rates averaged 5.07 percent Monday through Wednesday of last week. A mortgage refinance at a loan amount of $200,000 fixed for 30 years at… Read more

Mortgage refinance applications have risen for 2 weeks in a row fueled by a slow but steady decline in mortgage rates. Mortgage refinance activity is currently at a 3 month high. Applications for home purchase loans have risen 4 weeks in a row. Mortgage Refinance Rates: Mortgage refinance rates are near all time lows. Our research of wholesale lender’s shows 30 year fixed mortgage refinance rates as low as 5 percent with zero buy down points available. Refinancing into a new 15 year fixed… Read more

Expectantly mortgage refinance volume is up over 5% week to week. Mortgage interest rates for 30 year fixed loans dropped to their lowest levels since May on Wednesday. Refinance application volume had been down since interest rates shot upward from all time record lows reached in April. The average mortgage interest rate for a 30 year fixed home loan was 5.12 last week according to Freddie Mac. Our research of wholesale lender’s current mortgage interest rates shows 30 year fixed interest… Read more

Lately it’s been tough to refinance your home. Underwriting is evolving changing by the week as new laws aimed to protect wall street from bad loans make it increasingly difficult for homeowners to refinance. Appraisals once inflated often now regularly come in under valued killing pre-approved refinance loans mid process. The latest roadblock to home refinance savings is the collapse of Taylor Bean and Whitaker leading to the demise of Florida’s sixth largest bank and a major player in… Read more