Welcome to Mortgage Rates Guide
Forecast Mortgage Rates Article
. For a permanent link to this article, or to bookmark it for further reading, click here.
from: California Mortgage Rates and RefinancingThe rate of interest in which the banks borrow money is set by the Federal Reserve Bank, and then the banks get their profit by charging interest on the money they lend. California mortgage rates may vary according to the kind of loan you are applying for as well as your credit history. You should have a clear understanding of what you hope to accomplish by refinancing your loan, because the California mortgage rates can be influenced by what you are going to use the money for, and by your level of income.
Since California mortgage rates are lower than in years past, you may want to refinance for the sole purpose of lowering the interest rate on your loan, which could save you many thousands of dollars. Some homeowners want to cash out the equity in their home to remodel, make repairs, or build an addition to the home. Today’s California mortgage rates make it affordable to refinance their mortgage loans now.
You might be a homeowner that owns a 30 year mortgage, and you want to reduce it to a 15 year mortgage. By decreasing the number of years on your contract, the California mortgage rates may be lower, or they may be slightly higher; however, the money you would save over the life of the loan would be in the thousands of dollars.
If you are a homeowner that has an adjustable rates mortgage, you may want to take advantage of a fixed rate mortgage. There are almost as many California mortgage rates as there are types of mortgages. You may have an interest only mortgage and you want to stop having a balloon payment to refinance every year. Whatever your need, your lender can help you achieve your refinancing goals. If your goal is to lower your monthly payment, find the difference between your present monthly payment and the quote that the lender gives you and multiply that number by 12, which will give you what you will save per year by refinancing.
Maybe you have a second mortgage that you have been paying on, and you want to pay that loan off. You can refinance and pay that one mortgage off and structure the payments however you want them. If you want lower payments you can have a longer term, but if you want to pay less interest you would ask for a shorter term mortgage, even though you will be paying higher monthly payments.
If you are planning to sell your home and you are paying a slightly higher interest rate it might not be affordable for you to refinance. You might fare much better by keeping your present mortgage payment, rather than refinancing to get better California mortgage rates, and then when you sell your home pay off the mortgage.
Forecast Mortgage Rates Specific links
Forecast Mortgage Rates News
Mortgage Origination Forecast Increased by Nearly $200 Billion by TSA - LoanSafe
 The Mortgage Reports | Mortgage Origination Forecast Increased by Nearly $200 Billion by TSA LoanSafe Thus, we are projecting lower US mortgage rates for the rest of the year and raising our refinance forecast as a result.” “The increase in our estimated refinance activity is largely independent of the HARP 2.0 initiative. We factored HARP lending of ... MBA Raises 2012 Origination Forecast Due to Refinances |
Freddie Mac: 30-year mortgage rate down a tick at 3.78% - Los Angeles Times
 The Inquisitr | Freddie Mac: 30-year mortgage rate down a tick at 3.78% Los Angeles Times Reflecting the bargain home-loan rates, the Mortgage Bankers Assn. on Thursday increased its mortgage origination forecast for 2012 by almost $200 billion — but attributed the greater volume entirely to an increase in borrowers refinancing existing ... Historic Lows for Fixed Mortgage Rates Hold Steady Fixed mortgage rates hover at record lows FreddieMac Reports Historic Mortgage Rates Still Staying Low |
No Drop in Refinancing Expected - NASDAQ
 New York Daily News | No Drop in Refinancing Expected NASDAQ The new forecast calls for mortgage refinancing activity to be about equal to last year's total, rather than falling off significantly as previously expected. Analysts had expected that last year's low rates largely exhausted demand for refinancing, ... Bankrate: Mortgage Rates Hold at Record Lows MBA Increases 2012 Origination Forecast By $200 Billion Refinancings drive origination forecast higher |
New US home sales climb to 3.3 percent, above forecast - The Star-Ledger - NJ.com
 The Star-Ledger - NJ.com | New US home sales climb to 3.3 percent, above forecast The Star-Ledger - NJ.com By Bloomberg News Ty Wright/BloombergDemand for new US homes increased more than forecast in April as low mortgage interest rates and an improving economy drew buyers. Demand for new US homes increased more than forecast in April as low mortgage ... Sales of New Homes in U.S. Climb More Than Forecast: Economy |
Mortgage Rates Forecast: The Week Ahead for Rates - Mortgage Rates & Trends (blog)
 Mortgage Rates & Trends (blog) | Mortgage Rates Forecast: The Week Ahead for Rates Mortgage Rates & Trends (blog) By David Coster on May 21, 2012 Current mortgage rates have staked out new, lower levels to make their home over the past few weeks. Nothing within the realm of reasonable forecasting appears capable of changing that domicile this coming week. Zillow: US 30-Year-Mortgage Rates Rose Slightly In Latest Week Current Mortgage Rates: Bank of America, SunTrust and TD Bank Home Purchase ... |