Refinance Your Home Mortgage Now Before It's Too Late

 

Refinancing your home mortgage loan now at great rates might be a good decision. 

 

Homeowners should start saving money now by locking in rates that are at amazing and at historical lows.   Don't try to be an expert and wait for the bottom of the mortgage rate market. 

The FED recently rolled out its plan to pump $600 billion into credit markets, and some homeowners.

Waiting for possible lower mortgage rates for REFI won't make you happy.  The FED plan didn't work to keep mortgage rates down.  30-year fixed mortgage rates hovered around 4.25%, the lowest level on record since 1951, not expected to go lower and now are on their way up.

Don't wait for a mortgage loan rate bottom that might not happen.

Refinancing would make sense if your current rate is at or over 5.25%, and such REFI can produce monthly savings assuming you can qualify at current loan to value ratios.

Some consider so-called NO-COST REFI, where title, escrow and lender closing charges are either added to the mortgage principal balance or paid for over time with a slightly higher note rate.  This would reduce monthly payments and improve cash flow without paying money now to settle or close the deal.

Others would consider REFI out of current 30-year term loan into a 15-year term, with lower rates, but that's at faster amortization and higher monthly payments.

News is that Mortgage rates were up as of November 18, 2010.  The 30 year fixed-rate mortgage went to 4.39% with 0.9 of a point (or 0.9 percent of the loan balance) paid up front, which is up from last week's record low of 4.17%.  Fifteen-year, fixed-rate mortgage, 3.76% with 0.7 of a point paid up front, which is up from last week record low of 3.57%.    

Contact your mortgage broker now and take the opportunity to refinance a home loan at amazing and excellent rates that won't last forever.

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We don't do home mortgage loans and recommend you contact some smart people for that:

Tim Sibley, First Capital Mortgage, Corona del Mar, CA - Phone - 949-718-1511

Mike Munzing, Munzing Mortgage Group, San Clemente, CA- Phone - 949-689-5626

Jeff Belonger, FHA mortgage expert - phone - 609-440-5133

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Harrison K. Long - Business Solutions and Advisory - REALTOR® and broker associate, Coldwell Banker Residential Brokerage - Phone: 949-854-7747  -  ExploreProperties@gmail.com - CA DRE 01410855

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We list and sell homes and properties at Orange County, California.  Thanks for contacting us with your ideas and questions about home loan mortgage rates, homes and properties at Orange County.

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