Posted by admin on November 5th, 2007 at 12:30pm
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…
That statement is coming from an company that should know. They were the leader in the personal finance industry when I was still working from a 386pc!
As a loan officer, this is exciting news. Not only because it will mean more business (sure that’s nice, but also because new loan programs should be rolling out soon. The purse strings have been pretty tight for a while now, and mortgage refinancing options have been few. Only the seasoned veterans, like the pros at MortgageRefinancingMn.com (shameless plug I know), are still able to get the difficult loans processed.
If you will trust us with all your mortgage refinancing needs you won’t be disappointed. We already have loan programs that most competing mortgage brokers don’t even know about. So, give us a call at 612-685-0813 or fill out the “Contact Us” form.
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