Refinance home loan rates are likely to follow interest rates higher. Over the next few weeks, it is very likely that we will see home loan rates move towards 6%. The 10 year treasury rate yield has been in an uptrend since the beginning of the year and has recently started to push higher again. A move from 3.3% to 3.7% on the 10 year yield has not greatly affected mortgage rates….yet! There is little doubt that the affect is going to take place in a very rapid fashion. It would not be surprising whatsoever to see the 30 year fixed rate mortgage move as much as a full percentage point in a week or less.
If you have been thinking about refinancing this is exactly what you do not want to get caught up in. It is advisable to go ahead and complete your mortgage application and get it in before mortgage rates start shooting higher. If you wait a month or possibly even a week, you could see mortgage rates as high as 6% which would defy the purpose of refinancing your current home loan.
There are currently some great deals out there on getting a low refinance rate so take advantage of them now. I am sure you have seen advertisments on tv and all over the internet for low rate refinance. Some of the ads actually give you an 800 number to call and speak with a representative. It never hurts to call and ask a few questions. Do not think that everything they say is completely true, but it will help you get a grasp on things. Do your personal research and get that low rate refinance!
If you have been thinking about refinancing this is exactly what you do not want to get caught up in. It is advisable to go ahead and complete your mortgage application and get it in before mortgage rates start shooting higher. If you wait a month or possibly even a week, you could see mortgage rates as high as 6% which would defy the purpose of refinancing your current home loan.
There are currently some great deals out there on getting a low refinance rate so take advantage of them now. I am sure you have seen advertisments on tv and all over the internet for low rate refinance. Some of the ads actually give you an 800 number to call and speak with a representative. It never hurts to call and ask a few questions. Do not think that everything they say is completely true, but it will help you get a grasp on things. Do your personal research and get that low rate refinance!
