Refinance Activity Climbs as Mortgage Lenders Report Lowest Mortgage Interest Rates in 2010

Posted on | August 2, 2010 | No Comments

Refinance activity continues to climb in late July and early August as almost 80% of mortgage applications are American homeowners looking to refinance to a lower mortgage rates.  With many mortgage lenders reporting the lowest mortgage interest rates in 2010 at early August it will come as no surprise to see a huge increase in refinance applications over the next week.

At the beginning of each month many American households analyze their financial situation.  Along with this analysis they also likely look at the interest rates on their home loans, car loans and personal loans.  With the Federal Reserve Bank taking the necessary steps to keep interest rates very low it might be a common occurrence to see many of these American households consider refinancing all or some of their loans.


While there has not been a huge Refi Boom since the beginning of last year we could be seeing the start of one now.  With Zillow.com reporting 30 year fixed mortgage rates below 4.5% there are many reasons for borrowers to consider refinancing in August; one of the most important reasons would be to save money on their monthly mortgage payment.

Author: Alan Lake

Comments