Mortgage Rates Fall To New Lows: Why You Should Refinance on the Ilyce Glink Show September 18, 2011:
Every week for the last four, mortgage interest rates have dropped to historic lows, setting new records with each outing. While there is much work left to be done to shore up the ailing housing market, for qualified first-time home buyers and those looking to refinance, it’s an exciting time.
How do you know exactly when it’s the right moment to initiate your own paperwork? Well-placed timing can save you thousands, even tens of thousands of dollars in interest on a 10, 15 or 30-year fixed loan.
On my show today, callers and I discuss the continued drop in available mortgage deals. Where is the bottom of the well? Are the drops temporary? While there are few certainties, there are some great tools available that can help you work through the math:
I also like the refinance and mortgage calculators at eloan.com.
How low can rates go? Stay tuned. I hear that the Fed is trying to push down long-term interest rates even further.