Mortgage rates remain low at 4.18%
Source: Informa Research Services
(12/23/2011) The nation may be braving wild winter weather recently, but mortgage rates have remained stagnant this week, according to Informa Research Services. Â With the national average staying steady at 4.18%, now may be a great time for homeowners to think about refinancing their current home loan. Â Informa Research Service suggests consumers use online resources to quickly locate the best mortgage rates being offered in their area.
While the current national average on traditional 30 year fixed rate mortgages sits steady at 4.18% this week, one year ago, this same figure was at an even 5.00%. Â If a homeowner refinanced their $250,000 mortgage from a 5.00% interest rate to one carrying only 4.18%, they would save over $100 monthly. Â If the difference between your current rate and the rate to which you refinance is larger than in the given example, your savings could be even greater. Â Not only will you enjoy immediate savings on your monthly mortgage payments, but even more so over the entire term of the loan.
The most efficient way to find these low rates to help you refinance your current home loan is to use online rate comparison tables. Â Sites such as ERATE.com provide consumers this resource free of charge and requiring absolutely no personal information. Â Check them out here.
