Thursday, September 24, 2015

Saving Money By Lowering Interest Rates

Protecting your money means lowering your interest rate on home mortgages purchases and home refinance loans. Is this a good time to refinance? When interest rates are lower that your current rate.

The benchmark 30-year fixed-rate mortgage fell to 4% from 4.06%, according to Bankrate's Sept. 23 survey of large lenders. A year ago, it was 4.3%. Four weeks ago, the rate was 4.03%. The mortgages in this week's survey had an average total of 0.26.

That means increased mortgage interest rate saving compared to previous years. Home mortgage purchase and refinance applications are up.