mortgage rates

Annual Percentage Rate | 0% APR

December 16th, 2008 at 05:29am Under APR+ mortgage rates

APR, Annual Percentage Rate, is the rate of interest, credit card issuers charge card holders. This is very high, as this is considered an unsecured loan by the issuers. Although, variations exist, among different issuers charging different rates, based on credit history, it ranges around 30% per annum. 0% APR, is a rate offered by many card issuers to card holders, when they transfer the balance from other cards. In this offer, issuers do not charge on the transferred amount for a fixed period of time, say about 6 months.

Tags: 0% APR, Annual Percentage Rate, credit card, debt consolidation, mortgage

By admin 1 comment

Homeowners Rush to Refinance High Interest Rate Mortgages

January 29th, 2008 at 01:38pm Under 30 year mortgage+ foreclosure+ mortgage rates+ mortgage refinancing

Fed’s mortgage rate cuts have proven effective, at least in the short run, by holding Wall Street and investors in thrall while at the same time creating an urgency for homeowners to refinance their high interest rate mortgages.

As a rule, for a mortgage to be worthy of refinancing, the current interest rate should be 0.40 percentage points or more below the existing mortgage rate. With the current interest rate on a 30-year fixed-rate mortgage at an average of 5.57, it has now made up to 7 million mortgages (or a whopping 70% of US mortgages!) “refinanceable”.

The Mortgae Bankers Association said home mortgage refinancing reached their highest levels since April 2004.  The rush to refinance could get a further boost from President Bush’s Economic Stimulus Package. The package would allow government sponsored Fannie-Mae and Freddie-Mac to buy mortgages worth $729,750. Both Fannie-Mae and Freddie-Mac were bound by a cap of $417,000. This would make refinancing more feasible for owners of more expensive mortgages as well.

Popularity: 67%

Tags: 30 year mortgage, fed rate cuts, mortgage rates, mortgage refinancing

By admin 2 comments

Mortgage Rates Impacted by Federal Rate Cuts

January 24th, 2008 at 03:53am Under mortgage rates+ mortgage refinancing

Rate Cuts Impact Mortgage Rates
ORLANDO, Fla. (WOFL FOX 35)

A day after the Federal Reserve made an historic rate cut, mortgage rates also fell to near record lows. Short-term rates aren’t usually tied to long-term ones like 30 year fixed mortgages.

But the surprise cut Tuesday morning could mean it’s time to refinance. Mortgage rates have fallen in the last 30 days, but are now in the low 5% range.

Popularity: 46%

By admin 1 comment

Minnesota MORTGAGE RATES, Great Personal Service

December 13th, 2007 at 01:39pm Under minnesota+ mortgage rates

When it comes to mortgage refinancing, there are many banks and brokers to choose from and each has their own idea about what is best for you. Not only that, but they all talk too fast and use “banker speak” Wouldn’t it be nice if you could find a talented loan officer that would simplify the whole mortgage refinancing process?So why Should You Refinance Your Minnesota Mortgage with us?

Well, for starters our loan officers have many, many years of experience and we’re not in a race to push you into something just so we can make a quick buck. We work with literally hundreds of different banks and they all want our business. Banks offer amazing loan opportunities to the top mortgage brokers. Because we are so well established in the mortgage refinancing industry, we can help people get better rates than anywhere else in town.

By admin 5 comments

Mortgage Refinancing Expected to Jump as Mortgage Rates Fall

November 5th, 2007 at 12:30pm Under mortgage rates+ mortgage refinancing

Quicken, the manufacturer of both Quicken and Quickbooks, the well-known software accounting package, released this statement just today:

Mortgage Rates Fall, Refinancing Expected to Jump

11/6/2007 – Quicken Loans

Interest rates on 30-year fixed rate home loans fell to their lowest point in nearly six months today as investors, concerned with continuing turbulence in the housing and credit markets, moved their money into high quality bonds, like U.S. Treasuries, helping move long-term interest rates lower.

According to online mortgage lender Quicken Loans, nearly $100 billion in adjustable rate mortgages will reset through the remainder of 2007. The drop in long-term interest rates should benefit homeowners hoping to refinance an adjustable rate mortgage into a fixed-rate loan prior to the interest rate reset…

By admin 2 comments