Just when you thought mortgage refinance rates couldn’t go any lower they’ve fallen further today on bad economic news from the government’s jobs report. Bad economic news coupled with European creditors downgrading the United State’s credit rating is a recipe for 30-year interest rates hitting 4.49% according to this article in the Wall Street Journal:
Home mortgage rates fell again to a fresh 2011 low as a week of downbeat jobs data fueled concerns over a possible economic slowdown this year, according to the latest survey from Freddie Mac.
Despite historically low mortgage refinance rates according to Freddie Mac, mortgage refinancing applications are down. If you’re not sure if mortgage refinancing is a good idea or are a homeowner with an Adjustable Rate Mortgage looking to lock in a fixed-rate loan, you’re not going to have an opportunity like this anytime soon for the next fifty years.
If you decide to go forward with your mortgage refinance, did you know that the fees you pay actually determine how good of a deal you’re getting and not the interest rate? Just about anyone can take advantage of historically low mortgage rates; the trick is avoiding junk fees and unwanted markup.
You can learn more about getting the best mortgage refinance rates without overpaying the lender or your broker by checking out my Free Underground Mortgage Videos.