Refinance Home Loan Rates – 4.25% Fixed Refinance Rates Available?
Posted on | December 8, 2009 | No Comments
Refinance home loan rates have been very close to historical lows for quite some time. Getting a 4.25% fixed refinance rate is something that many people desire. Based on the length of your mortgage term there is a chance that you could refinance below this level. We are currently seeing the 15 year fixed mortgage rate around 4.17% while the 30 year fixed mortgage rate is around 4.66%.
During the last weekend in November the all-time low for the 30 year fixed mortgage rate was set at 4.49%. Never in the history of mortgage rate data have we seen a mortgage interest rate this low. Since then we have seen a pop higher and mortgage rates have moved all the way up to 4.76%. The most recent quote is a 30 year fixed mortgage rate around 4.66%. Even at this level mortgage interest rates are still extremely low.
If you have been thinking about refinancing were locking into a low mortgage interest rate now is the time to take action. If you continue to wait and hope that mortgage interest rates hit an all-time low in the near future you are risking that rates move higher, about 5%. You do not want to take this risk because they could end up being the difference in $100 a month on your monthly mortgage payment.
There are many companies out there that are currently advertising mortgage refinance rates at 4.25% or below. While all borrowers will not be able to refinance at this level you will never know until you actually submit a mortgage refinance application. If you have relatively good credit and you have equity in your home and there is no reason for you to not at least do the research to see what mortgage interest rate you will qualify for.
By doing a good amount of research you are going to find it much easier to complete the mortgage refinance process. With the advancements in technology there many free resources on the Internet to help you get through this process much easier. Rather than going into this process blind it is a good idea to make sure and do your homework well in advance to you know the next step at all times.
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: Heather Best
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