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Government Mortgage Refinance Plan – Lock in Low Interest Rates in February

admin — Wed, 17 Feb 2010 11:00:23 +0000

The government mortgage refinance plan was created to help all homeowners refinance to a lower mortgage interest rate which in turn would lower their monthly mortgage payments. With this in mind it would be a good idea to lock in to low interest rates in February. There are many mortgage lenders who will be more than willing to help you get a low rate.

The government has worked very hard to make sure that most American homeowners have the ability to access lower interest rates. During the credit crisis there was very little lending going on and the government realized that this would hurt the overall economy. President Obama and his staff urged mortgage lenders to start lending money again.

Since this time we have seen lending increased while mortgage rates continue to stay low. The 30 year fixed mortgage rate has been between 4.7% and 5% for the entire year of 2010. When looking at a historical chart of mortgage rates you can clearly see that these levels are extremely low.

It would be wise to take the time and effort to do your research on refinancing your current home loan. If you can save one full percentage point on your mortgage rate you could see significant savings over the next several years. Some homeowners are saving hundreds of dollars a month.

Author: Jeremy North

Government Mortgage Refinance Plan – Obama Can Help You Avoid Foreclosure

admin — Sun, 14 Feb 2010 11:00:40 +0000

President Obama has worked very hard to keep interest rates low which should help you avoid foreclosure. The government mortgage refinance plan was created to help you lock into a lower mortgage interest rates so your monthly mortgage payments would be much more bearable. If you refinance today you could save several hundred dollars a month on your mortgage payments.

It is very important to note that you must have equity in your home and a credit score above 740 to have the ability to refinance the low mortgage interest rates. This does not mean that you will not benefit from refinancing if you cannot lock into the low mortgage rates around 4.8%. If you have the ability to refinance your home loan rate to one percentage point below where it currently is you will benefit.

The reason you need to save one full percentage point is that there are closing costs involved in refinancing. If you do not save at least one full percentage point your refinance costs are often going to outweigh the benefits of your monthly mortgage savings. There are many mortgage calculators available online that can help you to better understand how much money you will save.

Pres. Obama and the government have worked very hard to keep mortgage rates low which should help you to save your home. It is very wise to do everything in your power to avoid foreclosure. Foreclosure is a process that no one enjoys and you do not want to lose the home that you have worked very hard for.

Author: Mike Garner

Government Mortgage Refinance Plan – FHA Refinance Mortgage Rates Remain Low

admin — Fri, 12 Feb 2010 11:00:25 +0000

The government mortgage refinance plan was created to help homeowners reduce their monthly mortgage payments by lowering their overall mortgage interest rate. At the present time FHA refinance mortgage rates remain very low when looking at a historical chart. Many mortgage lenders are offering 30 year FHA mortgage rates below 5%.

Before you get excited and feel that you can qualify for a mortgage rate this low you must understand that only the well-qualified borrowers will get this interest rate. If you do not have a significant amount of equity in your home and a credit score above 740 you are not to have the opportunity to refinance below 5%.

Just because you cannot get a refinance rate below 5% does not mean that you will not benefit from the refinance process. If you can save one full percentage point on your home loan rate then it is likely that you will end up saving a significant amount of money by refinancing today. Make sure to do your research and find out what your opportunities are.

With the amount of mortgage lenders that are currently advertising low rates it should not be difficult for you to find a lender that is willing to work hard for you. This industry is full of competition so it should not be hard to walk away from a lender that is not giving you the service that you need.

Author: Alan Lake

Government Mortgage Refinance Plan – Find the Best Low Rates in February

admin — Wed, 10 Feb 2010 11:00:46 +0000

The government mortgage refinance plan was designed to help homeowners find the best low rates in the current economic environment. In February, the 30 year fixed mortgage rate has been well below 4.9% for the entire month. We actually saw the 2010 low for the 30 year fixed mortgage rate at 4.73% earlier this week.

With this being the case, there is no reason that homeowners should not look to find the best low rates in their area. With the advancements in technology it is much easier today to find a mortgage refinance rate that is attractive to you. Make sure to take advantage of the government refinance plan and use your resources.

Most mortgage lenders are currently advertising mortgage rates well below 5%. Even though they are advertising rates this low it does not mean that every borrower will qualify at this level. Unless you have a significant amount of equity in your home and a credit score above 720 you are not going to qualify for an interest rate below the psychological 5% level.

Even if you can’t get a mortgage rate this low it does not mean that you will not save money by refinancing in February. If you can save one full percentage point on your home loan rate then you are likely going to save money over the course of the next few years. Make sure to use a mortgage calculator to determinate just how much money you are going to save.

Author: Alan Lake

Government Mortgage Refinance Plan – Save Money on Low 15 Year Fixed Rates

admin — Mon, 08 Feb 2010 11:00:46 +0000

The government mortgage refinance plan was created to help homeowners save money with lower mortgage interest rates. If you are looking to save money on low 15 year fixed rates then there are opportunities available for you. At the present time the 15 year fixed mortgage rate has been quoted as low as 4.23%.

It is important to understand that you are going to pay more in monthly payments on 15 year fixed mortgage rates than 30 year fixed mortgage rates. Obviously the term of your mortgage is going to be much shorter therefore the payments will be higher. What you also need to understand is that you will save a significant amount in interest over that time.

Not only will you get a much lower mortgage interest rate but you will also find that the total amount of interest you pay will be much less. There are many mortgage calculators available online that can help you to better understand how much you would save by going to the government mortgage refinance plan with a 15 year fixed rate mortgage.

There are many options when it comes to refinancing your current home loan. It would be wise to do your research and contact several lenders before starting this process. It is important to note you will not get a 100% accurate rate quote until you go through the mortgage refinance application process.

Author: Jeremy North

Government Mortgage Refinance Plan – Save Your Home with Low Mortgage Rates

admin — Wed, 03 Feb 2010 11:00:20 +0000

The government mortgage refinance plan was created to allow current homeowners to refinance their mortgage rate to a lower level. There’s a very good chance that you could save your home with lower mortgage rates if you refinance in the current low interest rate environment.

Pres. Obama and his staff have worked very hard to keep interest rates low for an extended period of time. Since the beginning of 2010 mortgage interest rates have been below 5% for the 30 year fixed rate mortgage. If you have been in the housing market for a significant period of time you know just how low this is for mortgage rates.

If you are having trouble making ends meet and paying your monthly mortgage payment then you might want to refinance to a lower mortgage rate. If you have a significant amount of equity in your home and a very good credit score then you are likely to be able to refinance to a rate that would save you a significant amount of money.

It would be wise to act sooner rather than later when it comes to saving your home. You do not want to wait until you are in the last stages of the foreclosure process. If you think that you might get into the foreclosure arena you want to refinance as soon as possible to save money.

Author: Jeremy North

Government Mortgage Refinance Plan – 30 Year Fixed Mortgage Rates Nearing 5%

admin — Mon, 01 Feb 2010 11:00:04 +0000

The government mortgage refinance plan was created to help homeowners save money over the next several years. By refinancing to a lower mortgage interest rate many homeowners could save a significant amount of money on their home loan. Unfortunately, it looks as if 30 year fixed mortgage rates are nearing 5%.

For much of the first month of the year analysts have predicted that mortgage rates are going to rise in 2010. During the entire month of January the 30 year fixed mortgage rate has been between 4.8% and 5%. Just recently we have seen a 30 year fixed bounce off 4.8% and start moving up.

The 10 year treasury radio has been in a strong uptrend since the beginning of December. The uptrend has seen a slight pullback during the month of January which has helped to stabilize mortgage rates. At the present time the 10 year treasury rate sits on its support level of the 50 day moving average.

If the 10 year yield bounces off the 50 day moving average you can be rest assured that mortgage rates are going to start moving up with the yield. Earlier today we saw 30 year fixed mortgage rates around 5% before moving back down to the 4.9% area. Do not be surprised if 30 year fixed mortgage rates move above 5% in early February.

Author: Jeremy North

Government Mortgage Refinance Plan – Obama Continues to Urge Refinancing

admin — Fri, 29 Jan 2010 11:00:52 +0000

The government mortgage refinance plan was created to help you to lower your overall mortgage interest rate. In last night’s State of the Union address Pres. Obama continued to urge Americans to refinance their home to lower rates. By refinancing to lower rates you will see a lower overall monthly mortgage payment which could help you save a significant amount of money.

The government has created many resources to help you lower your overall monthly mortgage payment. There is no reason that you should not access these resources and find out what options you have available. One of the most valuable resources that is completely free is the Making Home Affordable website.

By accessing this website you can find out a significant amount of information on trends in the mortgage market and what alternatives you have to lower your interest rate. If you are struggling to make ends meet financially than you might want to do a great amount of research on the Making Home Affordable website.

The recession has been very hard on many Americans and it is especially tough if you cannot make your mortgage payment. There are options for you if your mortgage payment is overbearing. You could consider refinancing but if that is not an option and you may also want to research the home loan modification program.

Author: Tiffany Mann

Government Mortgage Refinance Plan – Home Mortgage Rates Under 5% in January

admin — Wed, 27 Jan 2010 11:00:25 +0000

The government mortgage refinance plan was created to help homeowners locked into low overall mortgage interest rates. At the present time home mortgage rates remain under 5% in the month of January. The 30 year fixed mortgage rate has been below 5% for the entire first month of the year.

Since the beginning of 2010 the 30 year fixed mortgage rate has been between 4.8% and 5%. This comes after a month in which the 30 year fixed mortgage rate had a range of 4.49% to 5.35%. This narrowing range could be a sign of things to come. Many analysts have predicted that mortgage rates are likely to move up in the near future, as early as the spring of 2010.

The Federal Reserve Bank has been purchasing mortgage-backed securities since March of 2009. In March of 2010 the Federal Reserve is going to conclude this program which is likely to push mortgage rates higher. Many analysts feel that the conclusion of this purchase program is going to push mortgage rates up .5% to 1%.

If mortgage rates are likely to move higher in March then it is a good idea to get your mortgage refinance application submitted today. With the government working very hard to keep interest rates low you do not want to let this opportunity pass you by. Eventually the markets are going to start setting interest rates again and it is likely that we will see mortgage rates closer to 6% and 5%.

Author: Jeremy North

Government Mortgage Refinance Plan – Refinancing to a Lower Home Mortgage Rate in February

admin — Mon, 25 Jan 2010 11:00:41 +0000

The government mortgage refinance plan was created to help homeowners lower their overall home mortgage rate so they could save a significant amount of money. At the present time we are seeing 30 year fixed mortgage rates well below 5% which makes it very attractive for most homeowners to refinance their current home loans. If you have equity in your home and a credit score above 740 you would greatly benefit by refinancing.

If you have the previous stated requirements then you are going to find that you have access to mortgage rates very close, and possibly even below, 5%. Most American homeowners would be willing to do anything to get mortgage rates this low so it is very important that you take advantage of this opporutnity before it is gone. Many analysts have predicted that mortgage interest rates are likely to move up starting in the spring of 2010.

At the end of March 2010 the Federal Reserve Bank is going to stop purchasing mortgage backed securities. When this purchase program concludes many economists feel that this is going to push mortgage interest rates up at least .5% to 1%. This would mean that conventional mortgage rates would be right around 6%. This is still not an unattractive interest rate but nowhere near as attractive as 4.85%.

If you stand to save one full percentage point on your home loan rate then it would greatly behoove you to refinance today. If you continue to wait you could be staring at conventional mortgage rates around 6%. Although this is not a horrible interest rate on a home loan it is nowhere near as attractive as the interest rates we are seeing at the present time. Do not miss out on this opportunity.

Author: Heather Best