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Low Refinance Rate Article
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With economy like it is today, refinancing is a word that is used quite frequently by lenders as well as their customers. Mortgage refinancing is a very common type of refinancing. Many homeowners, as a way to improve their credit or financial situation, will refinance their mortgage loan. Although mortgage refinancing is very common today, it isn't the only type of refinancing that banks and consumers deal with. Auto refinancing is also very common.
from:In looking at recent studies, in the year 1908, you could buy a new car for $7,300. Today you'd be lucky to buy a good reliable used car for that price. Next to your home, an automobile is your next largest purchase. It's also something we all need to have for transportation, whether for work, school or other appointments. Unfortunately, not everyone can afford to own an automobile, but a large percentage of the population does own automobiles. Many families today are two income families requiring both people to own automobiles. Since the price of new or even good used automobiles is very high, most people find themselves taking out loans to purchase their automobiles. Unlike our homes that increase in value, automobiles depreciate in value and depreciate fast.
Whereas we are able to take out our home mortgages for up to 30 years, automobile loans are usually only given for up to 5 to 7 years at the most. Only new automobiles can be taken out in that long of a term, whereas used cars usually only are allowed 3 to 4 years. With the high price of automobiles, many people find them selves requesting auto refinancing for different reasons. Auto refinancing is often needed if they need to purchase another care before their current car loan is paid off. The lender will just release their lien on the current title and put it on the new car.
If an individual has a car that is still worth a lot more than the loan balance, the consumer may use auto refinancing to get additional cash for personal reasons, leaving their automobile on the loan as collateral. Auto refinancing is also done if a couple wishes to combine their two automobile loans into one loan to get smaller payments.
Another reason people choose auto refinancing is for better interest rates. Many times the interest rates fluctuate, so consumers use this opportunity to refinance their loans to get the lower interest rates. Auto refinancing is often an option if an individual or couple is having financial difficulties. If the car is still worth quite a bit, the bank will allow auto refinancing to let them extend the period of the loan so they can have lower monthly payments. There are many benefits the consumer can get from auto refinancing at the right time with the right bank.
Low Refinance Rate News
Getting the Best Refinance Deal - Wall Street Journal
 The Mortgage Reports | Getting the Best Refinance Deal Wall Street Journal Today's interest rates are a powerful lure even for homeowners who bought or refinanced a home recently. The average rate on a 30-year fixed-rate conforming mortgage is 3.84%, down from 4.22% in mid-March and the lowest level in at least 60 years, ... Real estate industry pushes Senate on refi bill Push intensifies to pass home-loan refinancing bill Don't HARP on it, refinance program too good to pass up |
Realtors(R) Offer Support for Bill to Help Responsible Homeowners Refinance - MarketWatch (press release)
 e-wisdom.com | Realtors(R) Offer Support for Bill to Help Responsible Homeowners Refinance MarketWatch (press release) NAR supports the "Responsible Homeowner Refinancing Act" because it offers relief to responsible homeowners who have good credit and consistently meet their mortgage obligations, but who have been unable to refinance into lower interest rates because ... Freddie Mac: 30-year mortgage rate down a tick at 3.78% 30-year mortgage rate hits another record low Another week, another record low for mortgage rates |
Record-low mortgage rates spur refinancing - The Hill (blog)
 New Zealand Herald | Record-low mortgage rates spur refinancing The Hill (blog) By Vicki Needham - 05/23/12 09:48 AM ET Record-low mortgage rates spurred the third straight increase in refinance applications last week as the housing finance market starts to rebound. Overall, mortgage applications increased 3.8 percent for the week ... MBA Weekly Survey: Refinance Applications Increase Because of Record Low ... Time to Refinance While Mortgage Rates are So Low Record Low Mortgage Rates Fuel Third Consecutive Increase In Refinance ... |
Mortgage Rates: Low Mortgage Rates Attracting Borrowers to Mortgage Refinances - FreeRateUpdate.com
 Eastern Morning Herald | Mortgage Rates: Low Mortgage Rates Attracting Borrowers to Mortgage Refinances FreeRateUpdate.com Low mortgage rates remain stable and are attracting borrowers to mortgage refinances in larger numbers. According to the Mortgage Banker's Association's Weekly Mortgage Applications Survey released yesterday, mortgage applications increased 5.6% for ... Refinance Applications Increase in U.S. for Third Consecutive Week, Driven by ... Mortgage Rates Today: Wells Fargo, PNC Bank and KeyBank Refinance Rates for ... No Drop in Refinancing Expected |
Mortgage Origination Forecast Increased by Nearly $200 Billion by TSA - LoanSafe
Mortgage Origination Forecast Increased by Nearly $200 Billion by TSA LoanSafe Thus, we are projecting lower US mortgage rates for the rest of the year and raising our refinance forecast as a result.” “The increase in our estimated refinance activity is largely independent of the HARP 2.0 initiative. We factored HARP lending of ... |