Jumbo mortgages follow conforming
lead, decline this week Source:
Informa Research Services
(01/14/2011) The
national average interest rate on jumbo mortgage loans fell to 5.61% this week,
paralleling the decline noted in the same figure for conforming loans, which
fell back below 5%, according to Informa Research Services.
While
the conforming loans hit their highest point two weeks ago, jumbos were at their
highest last week averaging 5.71% nationwide. Â Nonetheless, if this trend
continues, the decline in both could signal a revival of refinancing
opportunities for current homeowners.
No
one can say for sure where mortgage
rates are headed in the next few months, but homeowners who may be interested in
potentially refinancing their current home loan should keep an eye out for
attractive rates. Â The easiest way to accomplish this is to check
online rate tables,
such as those found on ERATE.com.
Not
only do these rate tables take the hassle out of rate shopping, but they also
provide an accurate picture of where current
rates stand since they are updated multiple times a day. Â Furthermore, to access this
information, no personal information is necessary. Â Only property location,
usually in the form of a state or a zip code, and estimated loan amount is
necessary to retrieve current loan rates in your area.
