GuidetoLenders.com Provides Refinancing Tips for Homeowners

Mortgage rates continue to fall in 2009 providing refinancing opportunities for millions of Americans. The Freddie Mac weekly survey of lenders report last week that the national average on a 30-year fixed mortgage is 5.01% and 4.62% on a 15-year fixed mortgage. Unfortunately the refinancing process can seem intimidating and complex preventing some homeowners from [...]

Government Bailouts May Increase Long Term Interest Rates

The price tag for the US taxpayer of the government bailouts is reaching staggering proportions. To date the estimated costs has been reported at:
$29 billion for Bear Stearns
+$100 billion for Freddie Mac and Fannie Mae
$85 billion for AIG
$400 billion for the FDIC failed bank fund
$700 billion for the entity which will buy mortgage securities from [...]

Fixed Rate Mortgage Questions and Answers

Should I Convert to a Fixed Rate Mortgage?
It is mentioned everyday in the newspaper, on TV, or around the water cooler at work: variable interest rates are making it difficult for home owners to afford to pay their mortgage. If you are in an adjustable rate mortgage (ARM), it may be time for you to [...]

Bank Lending Tightens Further According to Fed Survey

The quarterly survey of senior loan officers conducted by the Federal Reserve has been released with a common theme of tightening standards by US banks. The survey revealed that:
62% of banks tightened standards on prime mortgages49% of banks reduced demand for mortgages78% of banks tighted standards on subprime mortgages of the 17% of banks that [...]

Time to Convert the Home Equity Line?

Rate shoppers who are looking to convert their home equity loans to a fixed-rate second mortgages have been disappointed with the rate quotes and fees associated with a second mortgage. In many cases, homeowners have stopped shopping for the second mortgage and been happy to maintain a line of credit in order to have the [...]

Another chance at a fixed-rate mortgage?

Weekly average of 30-year fixed rate mortgages over the last 3 years (source: www.hsh.com).

Today’s sell-off in blue chips and the extended rally in Treasuries has potentially created another opportunity for variable-rate mortgage holders to convert to the fixed-rate variety. As can be seen by the graph above, mortgages rates below 6.00% are well in the [...]