With our country at war, the fluctuating economy, and changing prices on oil and real estate, it is no big surprise that mortgage interest rates are affected as well.  If you are a current homeowner, you might be wondering if now is a good time to refinance your home or to take out a home equity loan.  By researching the current mortgage interest rates, you will be able to determine if now is the time for a new loan.

 

You may be able to consolidate a first and second mortgage into one loan if the mortgage interest rates are low enough to make a difference.  Don’t forget that when you refinance you will still need to pay many closing costs and brokers fees, so you will have to look at the long-term savings to determine if it is worth it to go through the loan process.

 

If you are thinking of purchasing your first new home, it is recommended that you investigate the current mortgage interest rates to establish what price range of a home you can afford.  Visit one of our many partners to easily apply for loan pre-approval.