Refinance Rates

Refinance Rates

A matter of time...

The refinance rate you are looking for will be similar to the rates seen on new mortgages in today's market - whether fixed or adjustable it doesn't matter. That being said, the refinance rates you see today will change as the market changes, but as mortgage rates rise the demand for a mortgage refinance will rise as well. This is not good.

A bad time for refinance rates

Right now the mortgage industry is resting or a precarious edge will cliffs to both sides - rates are low and all signs point to a rare increase within months. As rates rise, people with ARMS will start moving toward a refinance. At the beginning this movement will be slow and steady, and refinance rates will still reflect the national mortgage rates for purchase loans. But as time progresses, as rates continue to rise and more and more people finally slide into their adjustable terms, people will begin desperately searching for low fixed refinance rates, and they'll be gone! Lenders will know just when to raise their refinance rates to levels above the rates attached to purchase mortgages, and at that moment we loose our ability to pick and choose our refinance opportunities.

Buy in before the rush begins

A refinance is an investment on your future, and as with all investment you need to buy low. Today'srefinance ratesare low - the mortgage market is strong and there are thousands of lender just waiting for the right to finance your home. We understand the difficulty and hard work a mortgage refinance will demand from you - we understand you may have spent months looking for just the right home loan to make your home purchase possible - but you have to be vigilant, you have to be smart, and you have to know when to fold 'em. Right now you can find beneficial refinance rates that will save you money - tomorrow is a different story.

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