30 Year Fixed Mortgage Rates – Lower Interest Rates in California
Posted on | December 3, 2009 | No Comments
The average for 30 year fixed mortgage rates is currently 4.65%. This is a bounce off the all-time lows but they are still lower interest rates in California available. If you are looking to refinance your loan in California there are many options available for you. By simply doing some google searches you are likely to find many mortgage lenders advertising mortgage rates under 4.75%.
California is one of the bubble states that has seen a very drastic decline in home prices over the last few years. Since the July 2006 top several areas of the state have seen over 50% decline in home prices. With this being the case it can sometimes be a little more difficult to refinance your home loan because you do not have as much equity in your home.
If you have a good credit score and you have built the equity in your home then there’s a good chance that you could refinance under 5%. You are going to be rewarded for being a good credit borrower over the last few years and making sound financial decisions. Make sure to take advantage of this opportunity and contact lenders today as you could get a much lower monthly mortgage payment.
If the opposite is true and you have been very bad with your financial decisions you are going to find it very difficult to refinance to a lower mortgage interest rate. If the appraisal value for your home comes in much less than you expect and your credit score has declined over the last few years and you are going to find it nearly impossible to refinance to a rate that is attractive to you.
The best thing you can do to make your financial life much easier in the future is to make sure all your bills are paid in full and on time. If you do this for several months and even several years you are going to find it much easier to refinance all your loans to lower interest rates in the future.
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
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