Mortgage Rates 4.15

Published: August 23, 2011

Mortgage Rates 4.15, Mortgage interest rates fell to its lowest level this week, although home values?? Decline means many owners do not have enough equity to qualify to refinance their loans.

Freddie Mac said the mortgage 30 year fixed rate averaged 4.15 percent, beating a previous low of 4.17 percent set in November 2010, in its weekly nationwide survey. Rates on 15-year mortgages fell to 3.36 percent, down from 3.9 a year ago.

Mortgage rates have fallen in recent weeks in response to the turmoil on Wall Street, investors seeking the shelter of Treasury bills in the long term. Low rates alone, however, were not sufficient to stimulate a refinance boom – a boon possible for those who are struggling with mortgage payments they can not afford – because many owners can not benefit from new loans.

Kris Wilson, a mortgage loan officer with senior Fairway Independent, said that nearly four out of five loan applications, it currently manages for purchases, but there are several of these. On Thursday, she contributed to a borrower locks in a 30-year fixed rate mortgage at 3.75 percent.

“We are very busy,” says Wilson. “I think everybody is.”

Wilson said that despite the growing number of homeowners underwater, there are creative ways to develop bids. A borrower has used a loan from his 401 (k) to help pay for a second mortgage that allowed him to refinance even if it was worth more than the house.

The Mortgage Bankers said that the overall activity of the application is up slightly and the share of refinance mortgage applications rose 78.8 percent, up slightly from the previous week. It was the largest share of refinancing since November 2010. Applications for adjustable rate mortgages continue to fall as borrowers take advantage of fixed rate mortgages.

Alex Stenback, mortgage banker with Residential Mortgage Group, said many potential borrowers do not receive as much as an assessment on their property to determine if refinancing is possible, but he said that the word is spreading slowly and the volume of demand is growing.

Due to the increase in fixtures, mortgage bankers have increased their expectations for the business volume this year to over $ 1 billion, but reduced their original projections for 2012 to $ 931 000 000 000.

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