Best answer:

Answer by Tony D
They are not directly related. You are talking about two different markets – housing and financial. And mortgage rates are actually rising right now as the housing market continues to deteriorate. No lenders want to loan into such a crummy market. Would you? If prices kept falling and foreclosure rates kept rising?

If a refi is right for you now, then look at getting it done. Don’t expect much help from interest rates.

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Fixed mortgage rates hit lowest levels for 2011
(05-12) 07:04 PDT NEW YORK, (AP) — Fixed mortgage rates have fallen to their lowest levels this year, giving Americans more incentive to buy homes or refinance their loans. Freddie Mac says the average rate on the…
Read more on San Francisco Chronicle

Fixed mortgage rates drop to lowest levels of the year
NEW YORK — Fixed mortgage rates have fallen to their lowest levels of the year, giving Americans more incentive to buy homes or refinance their loans. Freddie Mac said Thursday the average rate on the 30-year loan fell to 4.63 percent from 4.71. The average rate on the 15-year fixed mortgage slipped to 3.82 percent from 3.89 percent. Both are at their lowest points since December. It marked the …
Read more on Washington Post

Housing and Economic Forecasts Point to Rising Activity
WASHINGTON, DC–(Marketwire – May 12, 2011) – Home sales are expected to stay on an uptrend through 2012, although the performance will be uneven with mortgage constraints weighing on the market, according to experts at a residential real estate forum today at the Realtors ® Midyear Legislative Meetings & Trade Expo here.
Read more on Marketwire

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When interest rates are low, plenty of homeowners rush to refinance before evaluating the true consequences of their actions. A mortgage refinance can benefit some homeowners, particularly if they intend to stay in their home for the long term or if they can significantly reduce their interest rate . Sometimes, though, a mortgage refinance can be the wrong move.
Read more on Bankrate.com

Meagre crowd on first day of fair
The first day of Money Expo 2011 yesterday attracted fewer than 10,000 visitors – many of them retired people looking for high-yield deposit opportunities.
Read more on The Nation – Thailand’s English news

Question by Joshua E: What should I do to get lower interest rates when I get a mortgage refinance loan?

Best answer:

Answer by sporregar
You have to shop around for the best one. That’s not saying they will be less than your original mortgage rate was because rates have gone up.

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Fixed mortgage rates hit lowest levels for 2011
Fixed mortgage rates have fallen to their lowest levels of the year, giving Americans more incentive to buy homes or refinance their loans.
Read more on Fox News

Fixed mortgage rates hit lowest levels for 2011
Fixed mortgage rates have fallen to their lowest levels of the year, giving Americans more incentive to buy homes or…
Read more on Deseret News

Fixed mortgage rates drop to lowest levels of the year
NEW YORK — Fixed mortgage rates have fallen to their lowest levels of the year, giving Americans more incentive to buy homes or refinance their loans. Freddie Mac said Thursday the average rate on the 30-year loan fell to 4.63 percent from 4.71. The average rate on the 15-year fixed mortgage slipped to 3.82 percent from 3.89 percent. Both are at their lowest points since December. It marked the …
Read more on Washington Post

Underwater Homeowners Have Longer to Refi
HARP, a program that lets upside-down homeowners refinance their mortgages, has been extended.
Read more on FOX Business

How to tackle rising interest rates?
“Any payment above EMIs is considered as payments towards the principal and would result in shorter tenure. This, in turn, will lower the total interest amount you pay on your home loan.”
Read more on rediff.com

Refinancing is something that we do when we want to borrow more cash or when we need to change the borrower. In refinance, we replace the mortgage obligations with a brand new service provider, with completely different conditions.. In other words, refinance home mortgage is, if you apply for a second loan to compensate your original mortgage.

A refinance home mortgage is a good option to decrease monthly mortgage payments. When buying your property, the financial environment particularly the prevailing rates of interest could have controlled the interest rate on your mortgage.

However, these interest rates don’t stay the same and all the time change once in a while, and sometimes, these rates maybe significantly lower than the rates when you originally purchased your property and, applied for your mortgage. Refinancing comes in to play at this point by providing you with the opportunity to get a brand new mortgage for a lesser interest rate giving you a lower monthly installment.

Nevertheless, refinance home mortgages should only be pursued if it is smart to do so. Refinancing is sensible when you have accumulated, at least, 10% equity in your home.

Even when your equity is less than 5%, it’s possible to refinance your home mortgage. Nonetheless, you may have to pay some money to make up for the difference in equity. Never go for refinancing if the present market rates are too low. It’s advisable to pursue the 2% rule which proposes that a refinance home mortgage will only reap benefits for those who get an interest rate 2% lesser than the present loan on your home.

The interest savings will assist recover the costs of the new mortgage. Furthermore, there is absolutely no maximum limit to the number of refinance home mortgages you want to pursue, provided that, you haven’t any late payments in the past twelve months.

Bad credit could be a problem when applying for a refinance home mortgage since, no matter how low the current market rate is, lenders don’t give low mortgage rates for those with a bad credit score.

Refinancing is also a bad idea when your property has significantly devalued since your original mortgage rate is sure to be greater than the new one. Finally, it’s important to trade off the time left on your mortgage between the low interest rates. If in case you have just a couple of years left from the original mortgage, there is no point of going for a refinance.

For real information click HERE: best-refinance-home-mortgage-loan-rates.com Getting the best refinance home mortgage loan rate, then, can be important to almost any homeowner. READ here to Save your money: best-refinance-home-mortgage-loan-rates.com
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Related Refinance Home Mortgage Articles

If you intend to find and apply for the best provider of home loan mortgage refinance loan, it would be ideal to know the factors that herald inferiority of the lender. Avoid those with weaknesses and unlikely practices.

Mortgage Refinance Loans

Do you have trouble repaying your current mortgage? Applying for and securing a home loan mortgage refinance loan could be the best option to take in your case. Now, you could apply for a new mortgage to pay for your existing home loan. Why do many home owners and borrowers opt to do so? It is one way to further extend the maturity of an existing loan. It is only one effective way to avoid a pending default, which could incur penalties and other fees.

There are now many lenders who are open to providing home loan mortgage refinance loan products to consumers. The market segment is rapidly gaining popularity. That is why you could easily notice that the competition in the market is fast growing. Just like any form of home loan, there are mortgage refinance loans that are inferior compared to others. Here are some tips on how you could find the best there is in the market.

Excessive Charges And Rates

By now you know that applying for and availing any form of loan incurs necessary fees on your part. Every home loan mortgage refinance loan is no different. However, existing products could vary depending on specific fees imposed like lender origination payments and closing costs. As always, you should strive to avoid making a deal with a lender that could be considered as a reckless predator due to excessive charging. Even a bad credit score does not entitle any borrower to such unfair loan charging.

As always, comparison-shopping is the best defense against this type of inferiority. Before you apply for any particular mortgage refinance loan product, it is best to get quotes from four or more lenders. Take note of the interest rates imposed, the charges implemented, and the terms and conditions. Compare each product against each other to find which among them is superior over the others.

Loan Conditions And Customer Service

As mentioned, look at terms and conditions of any home loan mortgage refinance loan. The fine prints could contain provisions that are onerous to favor only the lender. Avoid clauses that would lead to periodic refinancing and ballooning payment. Stay away from products that require purchasing of insurance policies or services prior to approval.

Lastly, pay importance to customer service rendered by the lender. Mortgage refinance lenders must be as polite and as nice when dealing with borrowers, even those with poor credit ratings. If you sense arrogance in brokers or loan officers, pull out the loan application and find another lender that provides home loan mortgage refinance loan. If customer service is poor prior to taking a loan, expect it to even get worse once the loan is provided.

Find More Mortgage Refinance Loan Articles

Best answer:

Answer by golferwhoworks
if it is with Bof A it is backed by either Fannie or Freddie FHA VA

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