Posts Tagged ‘refi’
Refinance to Show Your Home Some Love
As Home Prices continue rising, homeowners may decide to love their existing homes. If you have set aside the funds for this, great! If not, a home refinance might be a great option. When the home renovation you want to do will improve the value of your home, such as kitchen, bathroom and en suite…Read More
Why Did my Bank Quote a Higher Interest Rate?
Why Did my Bank Quote a Higher Interest Rate than Advertised? Ever notice the small print next to the in-bank posters with loan interest rates? It is the bank’s way to cover itself when loan officers have to quote interest rates that are higher than those on the advertisement. Rates are not set in stone;…Read More
What to Know Before You Refinance
The federal reserve rate drop has enticed more homeowners to refinance their existing mortgages. Mortgage News Daily reports the refinance index increased 144 percent over the save week one year ago. Mortgage applications are up 1.5 percent from the previous week, mostly from refinance applications. Bottom line, if borrowers haven’t been able to find their…Read More
What Exactly is a Refinance?
We constantly talk about how refinance can benefit borrowers, but the term refinance seems to be a little confusing to many people. Refinancing a mortgage loan replaces the existing mortgage loan with a new mortgage loan. You may have the same lender or a new lender, but your previous mortgage loan is paid off by…Read More
Interest Rate Drop: Should I Refinance Now?
Should you refinance NOW? Sept 18, 2019, the Federal Reserve announced a federal funds rate cut of .25% or 25 basis points. The immediate results of this is that funds to banks will cost less, which hopefully will affect the interest rate your bank will offer you, as a borrower. But your bank lending rate…Read More