Posts with tag mortgage refinancing

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 »

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 »

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 »

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 »

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 »