UCONN Home Refinance Rates At 2.13
 
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Industry News

With fixed mortgage rates at record lows it makes sense to lock in a long term rate and if you can afford higher monthly mortgage payments that accompany a shorter term loan, like a 15 year loan, it makes financial sense. The increase in mortgage interest rates is only temporary; the Federal Reserve is stilling buying $85 billion a month in mortgage-backed securities (MBS) to drive rates lower. Also on our rate table for Florida LenderFi is offering 15 year refi rates at 2.50 percent with zero points. Average conforming 5 year adjustable mortgage rates are at 2.99 percent this week, refinance rates at 2.13 unchanged from last week’s average 5 year adjustable mortgage rate.

As a result of higher rates in this week’s survey mortgage applications decreased 4.8 percent from one week earlier. There are lenders out there offering 30 year refinance rates refinance rates at 2.13 below Freddie Mac’s average 30 year mortgage rate. Right now on our 5 year adjustable refinance rates list for the state of Georgia we have Roundpoint Mortgage offering 5 year rates at 1.875 percent with 2 mortgage points and Amerisave offering 5 year rates at 1.875 percent with 1.734 points.

The MBA’s Refinance Index, which is a measure of loan application volume for homeowners refinancing loans, decreased 13 percent from the previous week to the lowest level since late August. Both Amerisave and Roundpoint Mortgage are offering 15 year rates at 2.375 percent with points.

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