Home Mortgage Refinance Loan Rates – 30 Year Fixed Mortgage Rates at Lowest 2010 Levels in September

Posted on | September 2, 2010 | No Comments

Home mortgage refinance loan rates have been very low for quite some time but we are seeing 30 year fixed mortgage rates at the lowest levels of 2010. Currently, the 30 year fixed rate is around 4.25% which is a very attractive level for borrowers who are looking to save on a monthly mortgage payment. With this being the case a large number of mortgage applications have been to refinance.


Over the last several weeks it has been the case that almost 4 out of every five mortgage applications have been to refinance. This is likely to continue as many first-time home buyers are sitting on the sidelines waiting for another government tax incentives. With no first-time homeowner tax credit available at the present time it looks like most will look to refinance in 2010.

Before making any final decisions when it comes to refinancing home loan it is very important to remember that there are closing costs involved. The general rule of thumb is that homeowners must save at least one full percentage point to fully benefit from the mortgage refinance process in September of 2010.

Author: Heather Best

Comments