Mortgage Refinance Loan Rates
Mortgage refinance loan rates are slightly up on where they stood yesterday. The common 30-year fixed rate refinance mortgage on Thursday was 4.6894 percent. Twenty-four hours on and that rate has now risen to 4.7836 percent – that’s nine basis points of a rising trend.
Looking at the average 15-year mortgage refinance loan rates, on Thursday it stood at 4.1401 percent. That was down by a total of two basis points compared to the rate on Wednesday.
The average 5/1 adjustable rate mortgage is 3.3873 percent as of today. Freddie mac is reported as confirming that purchase mortgage rates have again declined this week.
Mortgage lenders will often raise their mortgage refinance loan rates. Bank of America is fairly typical in this respect. Their refinance mortgage rate is 5.009 percent while their purchase mortgage rate is 4.88 percent. That’s a difference of 0.129 percent.
Homeowners looking for a bad credit home mortgage refinance loan are usually struggling to find a lender who will accommodate them. For them, the Obama “Making Home Affordable Program” could be the answer.
This is a program that offers additional options for the credit challenged, hard pressed homeowner. It could be a useful tool to fight the misery of losing a home. It could help to prevent foreclosure.
There are usually more options available with home loan modification offers than is immediately obvious. Homeowners should always explore every possible option before giving up.
Related Posts:
- Mortgage Refinance Loan Rates Slightly Up
- Home Loan Modification Program: Can Homeowners Help Themselves Get More Affordable Home Loan Options?
- The Mortgage Modification Program – Homeowners Lower Their Home Loan Payment
- Prevent Foreclosure Penalties – Fannie Mae Cracks Down
- Prevent Foreclosure? Not Easy With Bank Of America!
