Our aim is to provide unbiased information to help you know when to refinance and get the lowest possible rate
Introduction to Home Mortgage Refinance Rates:
The Mortgage Refinance Journal is your unbiased and independent stop for information and advice for getting the lowest home mortgage refinance rates, best terms, and easiest experience when it is favorable for you to refinance! We concentrate on innovate home mortgage refinance products and financing ideas. Best of all, we are fully independent – we do not work directly with any broker or provider of home mortgage refinance loan product, so we can provide unbiased information and advice about how to get the lowest home mortgage interest rates. Our first goal is to answer the common question: “Should I refinance my mortgage?”
We have no stake in your choice, from the initial choice of whether to refi at all, to who you choose to refi with in order to try to get the lowest home mortgage refinance rates. We are a completely unbiased and independent website so we can give you information and advice that you can trust. We do accept comments from mortgage brokers and banks as long as they are on topic and not self-promoting. We do not accept post and page guest writers however. Our research is independent and up-to-date, and designed to ensure that a reader knows when to refinance and how to get the lowest home mortgage refinance rates when they do.
Types of Home Mortgage Refinance Loans We Cover:
This Journal will be presenting various kinds of refi types as we explore when to refinance, some you have heard of and some you probably have not. Sometimes the answer to the question, “should I refinance my mortgage” is a bit more complicated and may depend on the product you choose or term you decide to go with. Thus our coverage will include topics such as:
- “Part and part” home mortgages which allow you to pay off your loan in two steps, one involving a variable rate that is low, and the second a locked in fixed rate that can be higher. These innovative products are picking up steam and provide an opportunity to get low home mortgage interest rates at least initially.
- Innovative home equity loan products that offer some protection against home mortgage refinance rates rising during the course of a variable rate term. In other words, some banks offer certain protections in the structure of their home equity products lowering the risk a little.
- Assumable mortgages that can make it easier to sell your home in the future because you can pass along your low home mortgage refinance rate. These products are not easy to find or get, but when you get the lowest home mortgage refinance rate possible and then rates rise, you may be able to sell your home for more if you can pass along that favorable situation.
- Ways to asses the ideal term for your home loan, given the usual choices of 10, 20, and 30 years. People often underestimate the complexity of this choice – it is more complicated that just getting the lowest home mortgage interest rates since a shorter term means much higher payments.
- How to choose a broker or bank wisely to get the lowest home mortgage refinance rates without up front costs that change the answer to “should I refinance my mortgage”. There are an abundance of brokers and banks out there that want your business, and the difference in rates can be significant, but that might not be the only deciding factor.
- How to compare different types of loan products, including interest only and reverse loans in order to get the lowest home mortgage refinance rates. Again, the answer to the question “should I refinance my mortgage” is only the first step – then you have to decide which product to go with.
How to Get the Lowest Home Mortgage Refinance Rates:
Our goal is to give you enough information about loan products and the process in general so that you will know about each type of possible refi before you call a prospective broker. We do not think it is that person who should be answering the question “Should I refinance my mortgage?” because they are inherently biased. And once again, our independence from any broker or bank allows us to present this information about when to refinance in a fully unbiased way. Aside from this page which has the latest information and advice about the refi process, we have the following comprehensive pages (you can navigate above or to the left):
How to get the lowest home mortgage refinance rates covers the information and advice you need to get the most favorable rate and terms on your refi, with steps starting much earlier than you may think. The rate is often the most important factor in knowing when to refinance.
Mortgage refinance process terms and definitions gives you the ability to talk the talk with complete understanding with your broker or bank during the process. An educated consumer often gets the lowest home mortgage refinance rates possible.
The different types of home mortgage refinance loan covers lesser known types of loans and helps move the question from “should I refinance my mortgage” to “what kind of loan should I get?”. Many people are surprised at the number of products available.
Tips to getting the best rates provides overall tips and tricks and overall knowing when to refinance and how to get the lowest home mortgage refinance rates available. Even some who have done a lot of homework already will find helpful information there.
About Us gives you information about why we are here providing free information. We have no stake in who you choose to go with or whether you choose to refi in the first place. We want to help people know when to refinance and do not charge any fees to do so.
List of Fees allows you to see what the banks and brokers usually charge might be and gives a range of how much they should be when asking the question “should I refinance”. Knowing when to refinance is one thing, but being ready to pay the fees is another.
Steps in the refinance process brings you step by step through the loan process so you know what to expect and how to prepare. You need to try to avoid losing your favorable home mortgage interest rate because you run out of time on your rate lock, and this section will help you ensure that everything is moving along.
When to Refinance gives some information about the common question – when should I refinance my home loan – what is the best potential timing? Of course no one can tell you exactly where home mortgage refinance rates are headed, but we can help you read some of the clues.
The Journal will also explore the various terms you can get on more conventional loan products as well, from lengths of time to types of payments. The more informed and knowledgeable you are when you call your bank or broker, the better you are likely to do in the process. We want to provide you with the unbiased independent information you need to get a great rate and the most favorable terms you can!
Thanks for visiting and we hope that in the end you will know when to refinance and therefore get your answer to the question “Should I refinance my mortgage?
Spring 2014 Home Mortgage Interest Rates Update:
It is spring and home mortgage refinance rates are relatively stable. This means that the question, should I refinance my mortgage, is easier to answer because there is no volatility to take into consideration. Home mortgage interest rates are not moving fast so the answer lies in where things are now compared to what your existing loan looks like. Do we think that is going to change appreciably during this season? Probably not. Our goal here is to provide guidance about when to refinance and quite frankly there is not much in the trends for us to give advice based in the direction of home mortgage refinance rates. That does not mean there are not other factors which can provide some guidance, such as:
- The depth of the spring housing market: More homes usually sell in the spring and the overall market has been improving. This usually does not affect when to refinance because there is usually no effect on home mortgage interest rates. Yet this factor may affect which bank or broker you choose, given that they will be busier. Make sure you choose someone who is experienced and will make sure to close your loan on time.
- Should you purchase the ability to re-lock should home mortgage refinance rates fall a little? In a period of stable home mortgage interest rates you may want to resist paying for this extra “insurance”, but then again the cost can be quite reasonable.
- Are you holding out too long for that perfect rate? In other words, is the real answer to the question “should I refinance my mortgage” an unquestionable “yes”, but you are waiting for that last quarter point drop. Be careful of that strategy, it has led many before you to end up actually paying higher home mortgage interest rates in the long run.
Some Concluding Thoughts About Home Mortgage Interest Rates
You may be here because you are asking yourself “should I refinance my mortgage” or otherwise wondering when to refinance. You may also be someone with an already favorable situation who likes following home mortgage interest rates closely to understand the market and stay poised for your next refi. Or finally you may be looking at home mortgage interest rates because you are an investor following the market because it relates to your other investments. No matter what, we hope this website is helpful. That said, please make sure to use other sources as well, particularly if you are in the category of wondering when to refinance. We are quite comprehensive but cannot possibly cover everything with regard to home mortgage interest rates, and we also can’t possible respond to your unique financial a situation.
We also appreciate your feedback and assistance. Please feel free to use our comments section at the bottom of any page if you have any information or advice you think would be helpful to other readers about when to refinance or home mortgage interest rates in general. Of course we also welcome questions you think we should answer and topics you think we should cover or cover in more detail. Our goal is to be responsive to our readers while staying completely up-to -date about home mortgage refinance rates. Thanks for visiting!