Mortgage Refinance Loan Rates
Mortgage refinance loan rates moved up a little bit today in comparison with yesterday’s rates. Yesterday’s common 30-year fixed rate mortgage refinance stood at 4.6894 percent yesterday. Today it stands at 4.7836 percent. That represents an upward trend of nine basis points.
The mortgage refinance rates for an average 15-year loan stood at 4.1401 percent on Thursday. That represents a lowering of two basis points compared to the day before.
According to Freddie Mac, purchase mortgage rates are in decline this week once again.
It’s quite common to find mortgage lenders raising their mortgage refinance loan rates. As an example, Bank of America has a refinance mortgage rate of 5.009 percent, but their purchase mortgage rate is lower at 4.88 percent.
Today’s average 5/1 adjustable rate mortgage stands at 3.3873 percent today.
Anyone seeking a bad credit home mortgage refinance loan usually has difficulties getting any lender to listen. However, Obama’s “Making Home Affordable Program” may be worth checking out if you are in that position.
The program gives additional options to homeowners who are in a bad credit position. It can be a useful tool in the fight to help prevent foreclosure, for example.
Borrowers should always explore their options and look at different home loan modification offers before deciding which one suits them best.
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