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Fixed Vs Adjustable Rate Mortgage Article
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Shopping for the Best Fixed Rate Mortgage Refi Quotes
from: Mortgage & Debt FactsAre you in the market to refinance your home? If your present mortgage is an ARM and it is near time for an interest rate adjustment, you might want to consider refinancing with a fixed rate mortgage. You might also consider refinancing if you locked into a higher interest rate a few years ago; if you refinance with a lower interest rate you will save a significant amount of money over the course of the loan. The Internet is a great tool to find lending institutions to give you fixed rate mortgage refi quotes. The Internet is full of mortgage companies, banks, and credit unions that can assist you with obtaining fixed rate mortgage refi quotes.
It is a good idea to get several fixed rate mortgage refi quotes, you can do this yourself by going on the Net and asking specific lenders to offer you a quote, or you can go through a mortgage company. The mortgage broker sends your request out to all the lenders that the mortgage company does business with. The lenders usually forward their fixed rate mortgage refi quotes back within a 24 hour period. The mortgage company then forwards you the lowest 4 quotes. Asking for fixed rate mortgage refi quotes will help you narrow your search for the mortgage perfect for your monthly budget.
Often people refinance their homes to tap into their equity; they not only want to pay off their existing mortgage, but they may also want to make some home improvements. Often a home appreciates in value the longer you have it. If you have paid a good many years into your loan, you may have more equity than you do debt. Finding the lowest fixed rate mortgage refi quotes will help you find the lender that will give you the best rates.
You may want to refinance to lower your payment, or you may just want to lower the amount of interest that will be paid over the course of the loan. A 30 year refi loan will give you a fairly low monthly payment, but at the same time you will be paying interest that will equal or exceed the principal of the loan. A 15 year refi loan may raise your monthly payment a couple of hundred dollars, but the amount of interest paid over the term of the loan will only be about half of that of the 30 year loan. When you ask for fixed rate mortgage refi quotes, you will need to specify which type of refi loan in which you are interested, or you may want to ask for quotes on both the longer and shorter refi loans. Whether you have an adjustable rates mortgage that is coming due to raise with an interest adjustment or you just want to lock into a better fixed interest rate, a fixed rate refi loan may be the answer for you. You are ready to do business once you find the lender with the best of the fixed rate mortgage refi quotes.
Fixed Vs Adjustable Rate Mortgage Specific links
Fixed Vs Adjustable Rate Mortgage News
HSH.com Weekly Mortgage Rates Radar: Fixed Mortgage Rates at New Record Low Again - San Francisco Chronicle (press release)
 Eastern Morning Herald | HSH.com Weekly Mortgage Rates Radar: Fixed Mortgage Rates at New Record Low Again San Francisco Chronicle (press release) The Weekly Mortgage Rates Radar reports the average rates and points offered by lenders for the two most popular types of mortgages, the conforming 30-year fixed-rate mortgage and the conforming 5/1 adjustable-rate mortgage (ARM). MBA Weekly Survey: Refinance Applications Increase Because of Record Low ... Look Before You Leap Into Jumbo ARMs Zillow: US 30-Year-Mortgage Rates Rose Slightly In Latest Week |
LendingTree Analysis Indicates Greater Savings with Adjustable-Rate Mortgages ... - MarketWatch (press release)
LendingTree Analysis Indicates Greater Savings with Adjustable-Rate Mortgages ... MarketWatch (press release) "Given the speed and the magnitude by which ARM rates have declined, adjustable-rate mortgages are proving to be a more valuable 'risk adjusted' alternative than a traditional fixed-rate mortgage," said Doug Lebda, LendingTree founder and CEO. |
Refinancing homeowners overwhelmingly choose fixed loans - e-wisdom.com
 e-wisdom.com | Refinancing homeowners overwhelmingly choose fixed loans e-wisdom.com According to Freddie Mac, fixed-rate loans made up more than 95 percent of all mortgage refinance loans in Q1. The fixed-rate choice came regardless of whether the original loan was of the fixed or adjustable variety, Freddie Mac said. Fixed Rate Mortgages in U.S. Hit Record Lows, Again |
Fixed Mortgage Rates Hit Record Lows Again - MarketWatch (press release)
 USA TODAY | Fixed Mortgage Rates Hit Record Lows Again MarketWatch (press release) The 30-year fixed-rate mortgage at 3.79 percent continues to remain well below 4 percent and 15-year fixed-rate mortgages are also slightly down at 3.04 percent. 30-year fixed-rate mortgage (FRM) averaged 3.79 percent with an average 0.7 point for the ... HSH.com Weekly Mortgage Rates Radar: Renewed Eurozone Worries Drive Mortgage ... Fixed Rate Loans Still The Choice of Borrowers Who Refinance Freddie Mac: Fixed Mortgage Rates Hit Record Lows For 3rd Straight Week |
Mortgage rates at record lows as 30-yr at 3.79% - MarketWatch
 e-wisdom.com | Mortgage rates at record lows as 30-yr at 3.79% MarketWatch WASHINGTON (MarketWatch) - Mortgage rates hit record lows in the week ending May 17, with the 30-year fixed-rate mortgage average falling to 3.79% from 3.83% in the prior week, Freddie Mac said Thursday in its weekly report. These data go back to 1971. Mortgage rates fall again, new record lows established Fixed mortgage costs sink to record low Rate on 30-year mortgage falls to record 3.79 percent |