Friday, September 27, 2013

Mortgage Rates Go Lower

Mortgage Rates Decline: Mortgage rates went lower yesterday as reports indicate a stay of the lowest levels in three months.  This is the 12th business day in a row where rates have declined. 

For homebuyers and those seeking to refinance, mortgage rates have been positively impacted following the Federal Reserve's decision last week to steady the pace of its monthly bond purchases. 

Steadily lowering rates tend to spark interest in home buying and home refinancing. Mortgage loan websites are seeing an upsurge in the use of home loan applications for both products. 

Whether this activity will spur on a refinance wave has yet to be seen as new lending policies to protect the consumer from  financially incompatible products and exorbitant fees is in place and has been in force across the board for some time.  Still consumers should closely examine all loan products suggested and get a second and third professional opinion about what offers are best for them.