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Refinance Home Loan Rates – Lower Interest Rates in January 2010?

Posted on | December 14, 2009 | No Comments

Refinance home loan rates have been very low over the past few months. There’s a good chance that we will see lower interest rates in 2010 but we may never see rates as low as we sought the end of November. The 30 year fixed mortgage rate came in at 4.49% during the last weekend of November and has since moved up to as high as 4.75%. There’s been a slight pullback in the current 30 year fixed mortgage rate is around 4.65%.


Historically speaking, a mortgage interest rate this low is quite remarkable. If you have been thinking about refinancing your home loan today it is a very good idea to do your research and get on top of this issue. You will want to get your mortgage application submitted as soon as possible. Do not wait until January when all the refinance applications are coming in in your application could be at the bottom of the stack.

There many lenders out there that are currently advertising low mortgage rates. Many of these lenders are advertising mortgage rates well under 5%. You may want to contact some of these lenders and see just what they can offer you. If you find a low mortgage interest rate is in your future than it is a very good idea to go ahead and get started and do whatever it takes to save on your monthly mortgage payment.

The only way to truly know what interest rate you’re going to get on your mortgage is to submit a mortgage application. You can go on websites and estimate what your mortgage rate will be that every person has a unique situation. If you have equity in your home and a very good credit score you may find that you can refinance to a mortgage rate below 4.75%. If this is the case you will save hundreds of dollars on your monthly mortgage payment.

When deciding if a mortgage refinance is right for you you’ll want to sit down with your friends and family angle over this decision. There’s probably somebody in your life who is very smart with personal finance and it would be a good idea to ask them a few questions. If you both decide that getting a refinance is right for you now might be the time to get that mortgage application submitted.

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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