Sun Mortgage FundingThe downward trend of mortgage refinance rates began a downward plunge and in the last four weeks hit the lowest point of mortgage refinance rates since the beginning of mortgage refinance rates in the early 1950′s of the last century. That downward plunge was viewed as possible hazardous to the stock market and some analyst became concerned. That concern may or may not have been an influence of the mortgage refinance rates that quickly plugged the downward descent and started a slight almost invisible upward climb.

The increase in the 30 year fixed rate mortgage refinance rate rose from 3.49 to 3.55%. The 15 year fixed rate mortgage refinance rates rose from 2.80 to [email protected] The rise is barely perceivable but is seen as stopping the bleeding of mortgage refinance rates that some feared would make some banks pay people to borrow money instead of the opposite. The result may have improved sales in other areas of the economy as those who trade in mortgages tend to see any saving as a new spending incentive. Continue reading

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Sun Mortgage FundingIn recent years, many homeowners have experienced financial difficulty. The consequences of the decline of the market have resulted in many homeowners losing their homes to foreclosure. Other homeowners are experiencing difficulty paying their mortgage and have delinquent payments. Mortgage refinance is beneficial for homeowners who are experiencing difficulty making their mortgage payments. It can allow for a homeowner to reduce the payment by offering them the option of a lower interest payment.

Many homeowners can benefit from mortgage refinancing and the qualifications for this route are not as strict as might be believed. Some homeowners do not choose to apply for mortgage refinancing programs because they are unaware of their eligibility for the option. It is important that homeowners who are experiencing difficulty making their mortgage payments seek information on the topic before foreclosure.

Some of the factors that are examined by mortgage refinance companies are the homeowner’s income, home equity and credit. If a homeowner does meet these basic qualifications then they will most likely be able to receive reduce interest on their mortgage payments. If a homeowner is considering mortgage refinance as an option, there are important facts that they should investigate.

One fact that the homeowner should know is the current state of their interest rates. They should be able to discover whether or not their interest rates have gotten higher or if the rates have been decreasing. If the interest rates are getting higher then mortgage refinancing might be an option for the homeowner. Another important fact that the homeowner should know is their credit score. The homeowner should be able to get access to their credit score and consider whether or not it is high enough to be able to receive mortgage refinancing.

If a homeowner decides choose mortgage refinancing as an option, they must be aware that they are getting rid of their mortgage and creating a new one. This means that it is important that they research the broker or leader and examine the mortgage terms. Mortgage refinancing is a serious commitment and it is important for the homeowner to be knowledgeable about the terms that they are agreeing to. Refinance rates vary depending upon the state and Louisiana Refinance rates are different than other states. For details regarding mortgage refinancing rates, it is advised to contact a local mortgage company.

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Sun Mortgage FundingIf you were to pose the question to a new homebuyer wannabe about what a mortgage rate lock was or involved, you would probably get a blank face of bewilderment. On the other hand, those homeowners who have been “around-the-block” several times would know exactly what the term means. So the question before the house of common sense in simple terms is: “to lock or not to lock.” The good, the bad, and the ugly answers are forthcoming so fasten your seat belts; it’s going to be a bumpy ride.

Getting a home loan is not only loaded with paperwork and tedium, it can be full of surprises. So when you go shopping for a mortgage loan, you’ve been duly warned. The good news is that today’s interest rates are lower and more attractive than what your grandparents were able to get back in the 1940′s. The ugly news is locating a Louisiana mortgage lender who will treat you with respect, answer questions, and not try to impose his or her suggestions on what is best for you in terms of how a rate lock works; if they mention it at all. Continue reading

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Sun Mortgage FundingIf you’re a homeowner who’s been waiting on the best time for a refinance, today provides a good chance to find the best deal, since the current refinance rates are at historic lows. As the nation recovers very slowly from the last recession, the mortgage rates will eventually head back up again, and now may be the best time for you to lock in a great rate.

You know from the level of rates right now that they can’t statistically go much lower, and mortgage lenders may advise that this is one of those almost-perfect situations in which to refinance your mortgage. You can cut hundreds from your monthly mortgage payment by securing a lower rate.

Louisiana mortgage companies, along with many top financial analysts, predict that the rates for refinancing will be ticking a bit higher soon, and may not come back down, if the economy shows stronger signs of improvement. Rates may also increase if the Federal Reserve discontinues its push-down of long term rates, or if the inflation rate starts to rise. Continue reading

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Sun Mortgage FundingIf you ever thought about buying a home now is the perfect time. It’s a buyer’s market. Historically high foreclosure rates have left banks with a lot of distressed properties they would like to get rid of. Combine that with the lowest mortgage interest rates in decades and that means one thing. There is no better time to buy a home than right now. But there is one catch. You must at least have decent credit. If you don’t you should take steps immediately to clean yours up or you will miss this once in a lifetime opportunity to get a great deal on a home.

You do not have to hire anyone to fix your credit. There are a number of things you can do on your own which will increase your FICO score (the number mortgage companies use to decide if you are credit worthy)and prepare yourself to get approved for a mortgage. It may take a little time but a slow fix is a sure fix and many of the companies and individuals offering quick credit fixes are probably just trying to scam you out of your hard earned money. Continue reading

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