Should You Refinance Your Mortgage Now?by Tim Manni
Be sure to pick up the latest issue of Businessweek Magazine, “Is the Jobs Panic Justified?”, and the read the article “Should You Refinance Your Mortgage Now?“, featuring a Q&A with HSH Vice President Keith Gumbinger.
Mortgage rates have already fallen, should homeowners wait for a new Government program to push rates even lower?
If we crack 5%—which would be a 50-year historic low—and stay there long enough, there are many millions of mortgages that can be refinanced profitably. But the lenders’ staffs are already very thin. If you have a target interest rate in your head, shop around now for a mortgage lender that will hold onto your application so the paperwork is ready to go if rates fall.
How easy is it to refinance now?
Is there relief in sight for borrowers who want to refinance jumbo adjustable-rate mortgages but have been shut out of the market?
Considering so many lenders have gone out of business, how do you work the system to your advantage?
Click here to read the complete interview with the rest of Gumbinger’s answers.