Fixed Rate Refinance Today – Government Mortgage Program to Help You Refi
Posted on | March 29, 2010 | No Comments
Many Americans are likely to search for a fixed rate refinance today as mortgage rates are set to move much higher in the very near future area. Fortunately, there is a government mortgage program to help you Refi as soon as possible. The Making Home Affordable plan could help you get a low interest rate.
Pres. Obama and his staff have worked very hard to keep interest rates low for an extended period of time. For over 17 months we have seen the 30 year fixed mortgage rate at or under the 5% mark. When looking at historical mortgage rates you can clearly see that this is a low level.
Many homeowners had the ability to refinance in the last 17 months and they are saving greatly. Some homeowners are saving hundreds of dollars on their monthly mortgage payment. If you have continued to wait you may be missing out on an opportunity.
In the coming months there is a very good chance that we could see mortgage interest rate close to 6%. The Federal Reserve Bank will stop purchasing mortgage-backed securities at the end of March and the 10 year treasury rate yield is moving higher. These are signs that higher mortgage rates are coming.
Author: Alan Lake
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