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Refinance Home Loan Rates – Mortgage Rates Bounce in December

Posted on | December 7, 2009 | No Comments

Refinance home loan rates saw an all-time low last weekend of 4.49% on a 30 year fixed rate mortgage. Since last weekend the 10 year treasury rate yield has moved much higher which is caused mortgage interest rates to bounce. Since the 4.49% was achieved mortgage rates have moved straight up to 4.74% since then. Even with mortgage rates this high and is still a good idea to consider refinancing your home loan.


There are many mortgage lenders out there who are currently advertising mortgage rates well below 5%. If you stand to benefit by saving a full percentage point on your current home loan than it is a good idea to go through with the refinance process. If you cannot save a full percent it might end up being the case that the refinance cost and out being more than you would save in your monthly mortgage payments.

Many borrowers would like to know where mortgage rates are headed for the rest of December and into 2010. This is a question that is very hard to answer as the Federal Reserve Bank is done everything they can to keep mortgage interest rates low but eventually the market is going to set interest rates which is likely to push mortgage rates higher.

Unfortunately, no one knows when the Fed is going to take your hand out of the pot. They have made announcements that it is likely they will stop buying mortgage-backed securities in March of 2010 but as we all know they could continue to extend this program. As long as this program continues to be in place mortgage rates again to stay at low levels.

With mortgage rates being at extremely low levels now is the time to take advantage of this opportunity. Do not let these low mortgage rates pass you by in hopes that we will see even lower lows. You are taking the risk of a not being able to refinance below 5%.

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: Alan Lake

Category: Refinance Home Loan Rates

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