If you’re considering mortgage refinancing and are wondering if rates will keep going down, according to Freddie Mac there’s no end in sight. Interest rates are at their lowest levels of the year so now really is the perfect time to get the best refinance rates for your next home loan. According to this article interest rates have declined for five straight weeks to their lowest levels of the year.
A consistent trend emerged from mortgage rate reports over the past five weeks: down, down, down. Freddie Mac released its weekly mortgage survey yesterday, reporting yet another decline in fixed mortgage rates. In fact, this marks the fifth straight week that fixed mortgage rates have fallen.
Despite getting the best refinance rates of the year, many homeowners overlook fees like the loan origination fee and other closing costs. Getting a good deal on your mortgage refi depends on the amount of fees you pay at closing because you’ll have to recoup these expenses before realizing any benefit from the lower payment. The more you pay for loan origination or lender junk fees, the longer it will take to recoup.
Avoiding common mortgage mistake like paying junk fees at closing is easier than you think and my free Underground Mortgage Refinancing Videos Show you how to avoid unnecessary fees like the rate lock fee, processing and application fees, broker courier fees, and yield spread premium. These free mortgage videos save the average homeowner $1200 a year (I have case studies to back this up) and are yours with no obligation.