Purpose
Refinance Purchase Home Equity

Loan Type
Fixed ARM Interest Only FHA

Amount

State
Alabama Alaska Arizona Arkansas California Colorado Connecticut Delaware District Of Columbia Florida Georgia Hawaii Idaho Illinois Indiana Iowa Kansas Kentucky Louisiana Maine Maryland Massachusetts Michigan Minnesota Mississippi Missouri Montana Nebraska Nevada New Hampshire New Jersey New Mexico New York North Carolina North Dakota Ohio Oklahoma Oregon Pennsylvania Rhode Island South Carolina South Dakota Tennessee Texas Utah Vermont Virginia Washington West Virginia Wisconsin Wyoming

Display Mortgage Rates &
Refinance Rates in your State

Is Now The Time To Lock In A Low Refinance Mortgage Rate?

By Kevin Landis

Mortgage interest rates are at historic lows. Should you lock in a low refinance mortgage rate, now? Here are three reasons why now is the time to seriously consider making the move to refinance.

Historic Low Refinance Mortgage Rate

Mortgage interest rates, including refinance mortgage rates, are the lowest they have been in the last 30 years. You may never get a chance to refinance your mortgage at rates this low again. You can save thousands of dollars over the life of your mortgage loan, if you refinance. Even if you have a fixed rate mortgage, you can refinance you mortgage and save money, if you can refinance at a low refinance mortgage rate.

Mortgage Interest Rates Will Not Remain Low Indefinitely

Mortgage interest rates fluctuate with the economy. They are low when the economy is slow and rise when the economy improves. While no one is certain when the economy will strengthen, some time in the future it will rebound. When it does you can say good-bye to a low refinance mortgage rate.

Inflation Fears Are Beginning To Increase

When inflation increases, or even the fear of inflation increases, lenders raise the interest rate that they charge on all mortgage loans. Many economists predict a return of inflation as the economy improves and/or the government prints more money to monetize the huge national debt that is being accrued. Here, again, the threat of increased inflation will bring an end to low refinance mortgage rate interest terms.

Why Wait To Lock In A Low Refinance Mortgage Rate

The chance of interest rates decreasing more is very slight, while the probability of mortgage rates increasing is high. Take advantage of the low refinance mortgage rate available today and lock in the savings. The savings that you will see in your monthly mortgage payment will quickly add up to a substantial amount, which you can spend to enjoy life.

Related posts:

1. What If I Decide Not To Lock In A Mortgage Rate and Rates Increase?
2. How Does It Work If I Lock My Mortgage Rate?
3. Is It Time to Refinance Your Adjustable Rate Mortgage?
4. Mortgage Rates Are Low-Should I Refinance?
5. Should I Wait For A Better Mortgage Rate?