Mortgage refinancing rates continued their spiraling decent last week and continue to set new records for the lowest levels of the year. If you’ve been putting off your mortgage refi there’s no time like the present to lock in your best refinance rates. According to the mortgage blog at HSH.com declining mortgage rates can be attributed to the state of our economy; however, interest rates tend to rise much more quickly than they fall.
Mortgage rates found even more room to fall last week as our economy shows no signs of serious improvement. While mortgage rates have found a new low point for 2011, they seem to have found the mid-way point between some highs and lows over the last eight months or so.
Once you’ve decided to go ahead with your mortgage refi it’s important to pay attention to the fees you’re paying. Even though mortgage rates are at their lowest levels of the year it is the fees you pay that determine whether you’re getting a good deal on your mortgage refi. Junk fees like rate lock fees, application fees, processing fees, and broker courier fees cost you unnecessarily and lengthen the amount of time it takes to recoup your expenses from refinancing.
There are steps you can take to avoid overpaying for your next home loan. Invest one hour of your time for my free Underground Mortgage Refinancing Videos and you’ll be able to avoid common mortgage mistakes made by 95% of your neighbors. Register today, these refi videos are yours free with no obligation and you can watch them at your convenience from your PC or Mac.