Mortgage Borrowing Rates Near Historic LowsRefinanceRate.com
For the first time in about 3 years, the interest rates to borrow on a 30 year mortgage in the U.S. recently reached historic lows not seen since the end of 2012. Since the Summer of 2016 marked the market moving “Brexit” vote in the European Union, borrowing rates for long term mortgages have been slowly and steadily drifting lower.
We help smart homeowners to manage these decisions of mortgage and finance by providing our easy to use, no obligation Refinance Quote Request.
Just this year, economists in the finance sector have noted that the number of existing U.S. homeowners borrowing money on their mortgages that are eligible to refinance has spiked to nearly 9 million.
If you are one of the millions of homeowners that is carrying an interest rate on a long term mortgage loan that is higher than today’s low mortgage rates and closing costs, you should strongly consider letting lenders compete for your refinance rate quote.
Refinancing may Save Money on Monthly Mortgage Payments
Mortgage borrowing rates are near historic lows, and some homeowners currently have borrowing rates at or above 4.25%, which makes those borrowers potentially in a position to refinance their existing mortgage loan to a lower refinance rate and save thousand of dollars on their home mortgage borrowing costs – a smart move if you are planning to stay in the home and pay off the mortgage.
When the refinance market is busy and the banks are making money, don’t become just another number in the in their process. Mortgage applications to refinance are high and as more homeowners understand that they are eligible to refinance their mortgage loan and save money, the mortgage applications to refinance will continue to roll in.