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Refinance Home Loan Rates – All Time Low Mortgage Interest Rates

Posted on | November 26, 2009 | 1 Comment

Refinance home loan rates are currently at an all-time low. The 30 year fixed mortgage interest rate is at 4.59% which is below the weekly all-time low level of 4.61%. It is likely that we are going to see all mainstream news sources reveal this next week. Do not be surprised to see most newspapers and financial magazines report that mortgage interest rates at all-time lows.

At Subprime Blogger, we have been reporting this for several weeks as it has been a strong possibility for quite some time. When the 10 year treasury rate yield broke through its 50 day moving average there was little doubt that mortgage interest rates were to go to an all-time low below 4.61%.

Is going to be very interesting to see how many people plan to refinance at the end of 2009 and beginning of 2010. With mortgage interest rates as low as they currently are there’s no reason that we should not see a huge refinance boom in the next month or two. It is a very good idea for you to go ahead and get that mortgage applications submitted see you are not at the bottom of the stack when it comes to applications.

There are many mortgage lenders who are currently advertising mortgage rates well below 4.75%. Whichever lender you choose to use please understand that most of these lenders are offering extremely low mortgage rates. There is also a good chance that you could find that lenders will offer you incentives to go through the refinance process or lock-in at the current low mortgage interest rate.

Make sure to do a sufficient amount of research before making any personal finance decisions. There are many people out there who want to refinance but have extremely bad credit or do not have the equity in their home. If this is you please understand that getting a lower refinance rate is not for everybody. You need to have equity in your home and a steady or increasing credit score.

If the current economy and your financial struggles have gotten you down make sure to check out the inspirational blog My Life After Retail.  The blog is an account of the journey to find peace of mind and happiness in today’s society.

Author: Mike Garner

Category: Refinance Home Loan Rates

Comments

One Response to “Refinance Home Loan Rates – All Time Low Mortgage Interest Rates”

  1. Jim
    November 27th, 2009 @ 10:04 pm

    I just refinanced my home in Westchester at 5.1% down from 6.3% and am saving almost $200 a month. I refinanced with Intercontinental Capital Group in NYC, and got my first month free and now have a bunch of extra cash to play with. I thought it would be a huge hassle, but it really wasn’t too bad and only took a couple weeks. Now’s the time to do it!

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