Current Mortgage Rates
Friday, November 20, 2009
In some cases, the move to a higher rate mortgage could make sense. More than a third of new applications in the current, struggling mortgage market are refinances. As rates continue to rise, most would think that refinancing just doesn't add up. But under the right circumstances, refinancing to a higher rate may be a good move.
One scenario for refinancing higher is if a person has an old mortgage and little left to pay off, but high interest credit bills or home renovations that are a necessity. In this case, the home's equity could be refinanced, bills could be consolidated, and monthly overhead would be cut even with a higher rate. The other reason it makes sense to refinance at a higher rate is if you have a financial emergency and a "cash-out" refinance is the only way to get the money you need.
One scenario for refinancing higher is if a person has an old mortgage and little left to pay off, but high interest credit bills or home renovations that are a necessity. In this case, the home's equity could be refinanced, bills could be consolidated, and monthly overhead would be cut even with a higher rate. The other reason it makes sense to refinance at a higher rate is if you have a financial emergency and a "cash-out" refinance is the only way to get the money you need.
Refinance With Current Lender?
Refinancing into a Bigger Loan?
Why Won't My Refinance Go Through?
Should I Consolidate and How?
Does a Prior Refinance Affect This One?
Refinancing into a Bigger Loan?
Why Won't My Refinance Go Through?
Should I Consolidate and How?
Does a Prior Refinance Affect This One?
Why is This Refinance 'Cash-Out'?
Mortgage Refinance with No Closing Cost
Should You Rescind Your Refinance?
How to refinance a loan for bad credit
No Cost Refinancing?
What is a Mortgage Refinance?
What is cash-out refinancing?
When Does Refinancing Really Pay?
Is a Refinancing a Good Deal if it Saves Money?
What Goes Into the Refinance Decision?
Does "No-Cost" Refinance Make Sense?
Should I Follow the APR on a Cash-Out Refinance?
Does Refinancing at a Higher Rate Ever Make Sense?
Refinance With Current Lender?
Refinancing into a Bigger Loan?
Why Won't My Refinance Go Through?
Should I Consolidate and How?
Does a Prior Refinance Affect This One?
Why is This Refinance 'Cash-Out'?
Mortgage Refinance with No Closing Cost
Should You Rescind Your Refinance?
How to refinance a loan for bad credit
No Cost Refinancing?
What is a Mortgage Refinance?
What is cash-out refinancing?
When Does Refinancing Really Pay?
Is a Refinancing a Good Deal if it Saves Money?
What Goes Into the Refinance Decision?
Does "No-Cost" Refinance Make Sense?
Should I Follow the APR on a Cash-Out Refinance?
Mortgage Refinance with No Closing Cost
Should You Rescind Your Refinance?
How to refinance a loan for bad credit
No Cost Refinancing?
What is a Mortgage Refinance?
What is cash-out refinancing?
When Does Refinancing Really Pay?
Is a Refinancing a Good Deal if it Saves Money?
What Goes Into the Refinance Decision?
Does "No-Cost" Refinance Make Sense?
Should I Follow the APR on a Cash-Out Refinance?
Does Refinancing at a Higher Rate Ever Make Sense?
Refinance With Current Lender?
Refinancing into a Bigger Loan?
Why Won't My Refinance Go Through?
Should I Consolidate and How?
Does a Prior Refinance Affect This One?
Why is This Refinance 'Cash-Out'?
Mortgage Refinance with No Closing Cost
Should You Rescind Your Refinance?
How to refinance a loan for bad credit
No Cost Refinancing?
What is a Mortgage Refinance?
What is cash-out refinancing?
When Does Refinancing Really Pay?
Is a Refinancing a Good Deal if it Saves Money?
What Goes Into the Refinance Decision?
Does "No-Cost" Refinance Make Sense?
Should I Follow the APR on a Cash-Out Refinance?
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Refinancing
- When Does Refinancing Really Pay
- Is a Refinancing a Good Deal if it Saves Money
- What Goes Into the Refinance Decision
- No Cost Refinance Make Sense
- Should I Follow the APR on a Cash-Out Refinance
- Does Refinancing at a Higher Rate Ever Make Sense
- Refinance With Current Lender
- Refinancing into a Bigger Loan
- Why Won't My Refinance Go Through
- Should I Consolidate, and How
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Current Mortgage Rates*
Loan Type National Average |
|
| 30-yr. fixed | 4.75% |
| 30-yr. fixed jumbo | 5.25% |
| 15-yr. fixed | 4.25% |
| 15-yr. fixed jumbo | 4.75% |
| 7/1 ARM | 4.38% |
| 5/1 ARM | 4.00% |
| 3/1 ARM | 4.00% |
| 1-yr. ARM | 3.62% |
| 1-yr. LIBOR ARM | 4.38% |
| 10/1 ARM | 4.62% |
*Mortgage Rates Updated: 11/20/2009