REFINANCE NOW-RATES ARE THE LOWEST THEY HAVE EVER BEEN!
With the huge decline in the stock market the past two weeks (and especially the past few days), the bond market has rallied causing a drop in interests rates. If you missed the last refinance opportunity in the Fall of 2010, there is another chance now. But, since nobody knows how long this will last, I suggest that anyone considering this contact your mortgage company as soon as possible. As of the closing of the markets today, 30 year fixed rate loans up to $417,000 are as low as 4.25%; 15 year fixed rate loans are 3.5% and 5/1 ARMs are 3.125%. Rates on loans between $417,000 and $729,000 are not much higher.