A Time to Refinance??
20 Dec2008
Filed Under Buying · Tagged: credit, Financing, rates, refinancing · Print This Article
No easy answer to that question. Mortgage rates are at their lowest rates since the 1960s, and this is causing many homeowners to consider refinancing. Some mortgage companies are quoting rates as low as 4.5% for people with very good credit and a big down-payment.
Applications for refinances have tripled since the Federal Reserve announced plans to buy up $600 billion of mortgage debt.
This is good news for people wanting to lock in a low rate for a thirty-year fixed rate mortgage. This rate is currently at 5.06 percent (on average). It
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