Aug 2, 2009
Refinance Home Loan Rates - Interest Rates at 5%?
Refinance home loan rates have been pretty stable over the last few weeks with a very small range of 5.1% to 5.3%. This is very unusual as treasury yields have been pushing higher which usually means higher mortgage rates. Now that treasury yields have come back down, will we see interest rates under 5% again? I think we all know someone who refinancing under 5% back in March and they were extremely happy about it. Is it now your chance to get this opportunity?
If you have been thinking about refinancing, now might be the time to take action. Most of you have probably seen advertisements all over television and the Internet that show mortgage rates well below 5%. While many of you may believe that it is impossible to get a refinance rate this low, you will never know until you actually try! Most ads over an 800 number to contact and speak to a representative. You may not want to give the representative all of your financial information, but they may be able to answer a low of the questions you have. Please remember, that you can hang up at any time!
Congratulations on taking the first step in getting a low refinance home loan rate. Now that you have started the research step it is time to take action and actually contact some mortgage lenders. You never know how low of a refinance rate you could get if you never ask!