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Should you refinance your mortgage if your current rate of interest is 15 percent?
Wiki User
∙ 12y ago
If your current rate of interest is 15%, whether your refinance your mortgage is something you should discuss with your bank or financial advisor. If you think you could be getting a better rate, you can take it up with them.
Wiki User
∙ 12y ago
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What are the lowest refinance mortgage rates?
The lowest mortgage refinance rates are currently around 2 percent.
What is the average interest for lowest refinance mortgage rate?
The average interest for the lowest refinancing mortgage rate depends on the company and how long one has been paying the loan and the value of what is left. An example is one to four percent interest rate.
What is the current interest rate being offered by Chase Mortgage for a home loan?
Interest rates have now been placed at 2.63 percent
Can I refinance my mortgage if I have low equity in my house?
Yes it is possible to refinance your house if you have low equity. But you must have at least 20 percent equity before your refinance will be apporoved.
Is there a way to lower mortgage payment?
One of the best ways to reduce mortgage payments is to do a mortgage refinance as long as the new mortgage interest rate is at least two to three percent lower than the current rate and there is sufficient equity in the house. It's also important to a make sure there is no prepayment penalty on the existing loan. A prepayment penalty is a fee charged by the lender if a mortgage loan is refinanced before the prepayment expires
What are the lowest refinance mortgage rates?
The lowest mortgage refinance rates are currently around 2 percent.
What is the average interest for lowest refinance mortgage rate?
The average interest for the lowest refinancing mortgage rate depends on the company and how long one has been paying the loan and the value of what is left. An example is one to four percent interest rate.
How can you calculate your mortgage at 7 percent for 30 years?
Many mortgage brokers have something called a mortgage calculator. Call your mortgage company they should be able to help you. When you find out what your mortgage is at 7% for 30 years you might consider, if qualified, to refinance into a lower interest rate.
What is the current interest rate being offered by Chase Mortgage for a home loan?
Interest rates have now been placed at 2.63 percent
Can I refinance my mortgage if I have low equity in my house?
Yes it is possible to refinance your house if you have low equity. But you must have at least 20 percent equity before your refinance will be apporoved.
Is there a way to lower mortgage payment?
One of the best ways to reduce mortgage payments is to do a mortgage refinance as long as the new mortgage interest rate is at least two to three percent lower than the current rate and there is sufficient equity in the house. It's also important to a make sure there is no prepayment penalty on the existing loan. A prepayment penalty is a fee charged by the lender if a mortgage loan is refinanced before the prepayment expires
What kind of rates are available at California Refinance?
California rates for mortgage refinancing are at 4.125 percent for the average 30 year fixed mortgage, but if a person wanted to refinance to a 5/1 ARM their rate is at an all time historic low of 2.125 percent which is, at the current time, the best choice to refiance to because the mortgage rates will not steadily increase drastically for a long period of time to come.
What equity loan rates can I expect in today's market?
Current 30 year mortgage rates are up to 5.08% as of April 1, 2010. The average 15 year mortgage interest rate increased to 4.39 percent, up from the previous week’s average interest rate of 4.39 percent.
When does it make sense to try to refinance to get better mortgage rates?
People refinance to get a better rate. Even one percent can make the difference in thousands and thousands of dollars of interest over the life of the mortgage, depending on how much was borrowed, how much is owed and the current terms. Your lender can advise you when re-financing is a good idea. Talk to your mortgage lender. There are often costs associated with re-financing. Get assistance to calculate the actual savings of a re-fi when measured against the cost. It always makes sense to re-fi IF it will save money in the long run.
What is considered a good interest rate on a mortgage?
A good interest rate on a mortgage in 2014 is 4.2 percent. This varies greatly depending on the type of mortgage and the credit score of the applicant.
What is the good interest rate on an mortgage loan is what percent?
The answer depends on whether you are the lender or the borrower and also in the country that you get the mortgage in.
How low is classified as the lowest interest mortgage rate?
The lowest interest mortgage rates are reported to be at around 2.6 to 2.8 percent. Some can even go as low as 2.5 percent, but these sources are less reliable.
