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December 25th, 2012

No. 7: ‘6 steps to a lower refinance rate’



falling ratesNumber seven on our Top-10 most popular articles of 2012 is “6 steps to a lower refinance rate.”

Publish date: June 05, 2012
Written by: Michele Lerner


If you’re among the many currently looking to refinance your mortgage, chances are you’re seeking out the lowest mortgage rate possible. But before you start shopping around, remember to keep a few things in mind.

For starters, take a step back from mortgage rate shopping and evaluate your goals in the context of your overall financial plan, says Michael Jablonski, executive vice president and retail production manager for BB&T Mortgage in Wilson, N.C.

“First, figure out the best loan product to meet your financial goals, and then you can start looking for the most competitive mortgage rates,” he says.

Also, remember that your credit scores and the loan-to-value ratio of your property could have a much bigger impact on your refinance rate than a slight shift in average mortgage rates, says Malcolm Hollensteiner, director of retail lending sales for TD Bank in Vienna, Va.

Click here to read the entire article.

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HSH.com's daily blog focuses on the latest developments in the mortgage and housing markets. Our mission is to relate how changes in mortgage rates and housing policy, as well as the latest financial news, impacts consumers, homebuyers and industry insiders alike. Our 30-plus years of experience in the mortgage industry gives us an edge as we break down the latest changes in an ever-changing market.

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Tim Manni is the Managing Editor of HSH.com and the author of their daily blog, which concentrates on the latest developments in the mortgage and housing markets.

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