mortgage refinancing - Articles

Is the Refi 'Apocalypse' Really Upon Us?

By Diana Olick Mortgage rates today are very low, but U.S. borrowers have a very short memory. They forget that the rate on the 30-year fixed, which sits around 3.6 percent today, was a full percentage point higher a year ago, and above 5 percent in January of 2010. The purchasing power gained through today's low rates... Continue Reading »

Why Fewer Mortgage Refinancers Are Opting to Shorten Their Loan Terms

Refinancing a mortgage has become a popular option for current homeowners in the last year or so, as mortgage rates have held steady at well below 4 percent for some time. However, new data show that in general, the number of people who also use the refinancing opportunity to shorten their loan terms is shrinking. In the... Continue Reading »

Mortgage Refinance Boom Still a 'Once-in-a-Lifetime Opportunity'

There isn't much written about the issue in the national media, where the focus is on gun violence and fiscal cliffs, but the U.S. is in the midst of a mortgage refinancing boom that should continue well into 2013. According to the Washington, D.C.-based Mortgage Bankers Association's weekly applications survey,... Continue Reading »

Mortgage Refinancing: Borrowers See Big Payoff in 3rd Quarter

Many consumers may have sought to refinance their existing home loans in the last several years as a means of making their monthly payments more affordable, and it seems their efforts have largely paid off. During the third quarter, 83 percent of consumers who took the time to refinance their home loans either maintained... Continue Reading »

Homeowners Refinancing Again -- and Again

By Christopher Maag During the mortgage boom, Teresa Aiello was a typical home refinancer. After getting her initial mortgage, she refinanced in 2005, and then got a second mortgage in 2006. The multiple mortgages were common, as was the result: Aiello owes more than her house is worth. Her second mortgage has a... Continue Reading »

Surprise! Chase Is Refinancing Your Mortgage

By Les Christie While millions of struggling homeowners have had to jump through all sorts of hoops trying to refinance their mortgages, Michelle and Bob Irwin barely had to lift a finger. This summer, the couple received a letter from JPMorgan Chase, their mortgage servicer, informing them that it was going to slash... Continue Reading »

Chase Bank Offering No Doc Refis, Principal Reduction

By Jon Prior JPMorgan Chase went from fast-tracking foreclosures to rubber stamping and pre-approving some borrowers for refinances and even principal reduction. The five largest mortgage servicers signed a $25 billion deal with federal prosecutors and 49 state attorneys general in March to settle foreclosure abuses and... Continue Reading »

Mortgage Refinancing Activity Reaches 3-Year High

By Kerri Ann Panchuk The number of mortgage applications filed in the U.S. edged up a slight 0.9 percent for the week ending July 20 as refinance activity hit a three-year high, an industry trade group said. The Mortgage Bankers Association noted its refinance index grew 2 percent from the previous week, its highest... Continue Reading »

Low Interest Rates No Help to Housing Market

With unemployment high, markets on a hair trigger and the memory of Washington debt-ceiling gridlock still fresh, many Americans are reluctant to put their money toward any venture that could be less than fully secure. Despite efforts on the part of the White House and the Federal Reserve to encourage borrowing and... Continue Reading »

Is Now the Best Time to Refinance Your Mortgage?

Some homeowners in their 50s are taking advantage of historic low rates to refinance their homes and score themselves a mortgage-free retirement. Mark and Jan Sass, 55-year-olds who live in Cincinnati, Ohio, refinanced their home last week to lock in lower rates, Reuters reported. They switched from a 20-year fixed-rate... Continue Reading »

Mortgage Applications Surge on Strength of Refis

Applications for home mortgages saw their biggest jump in three months last week, fueled by demand for refinancing as interest rates continued to fall, an industry group said on Wednesday. The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity, which includes both... Continue Reading »

Mortgage Refis Increase, Purchase Applications Fall

Mortgage refis are increasing again, as interest rates show no sign of dropping again. The Refinance Index rose 4.9 percent for the week ending January 7, as compared to the previous week, according to the Mortgage Bankers Assocation (MBA). The seasonally adjusted Purchase Index, an indication of existing home sales, fell... Continue Reading »

Mortgage Refis Down, Home Purchases Up

Fewer mortgage refinances are being initiated by homeowners -- and that may be a good thing. The overall mortgage application loan volume declined 16.5 percent for the week ending Nov. 26, according to the Mortgage Bankers Association. Included in that number are refis, which declined 21.6 percent. Mortgage refis are now... Continue Reading »

Retirement Planning: Should You Refinance?

Retirement planners usually advise against carrying mortgage debt into the golden years. But homeowners over 50 are living in a different real estate world now. SmartMoney reports that around 50 percent of today's retirees are carrying mortgages, as compared to 25 percent two years ago. The following article explains when... Continue Reading »

AOL RealEstate on Facebook