Popular Mortgage Refinancing Options at Record Low Rates, Says Informa Research Services

(8/5/2011) CALABASAS, CALIFORNIA – Recently, data showed that the U.S. economy grew only 1.3% in the second quarter of this year.  As a result, this news pushed 15-year fixed and 5-year adjustable rate mortgages to record low levels, according to Freddie Mac. For those who are looking for low rates with which to refinance their home, Informa Research Services, a subsidiary of Informa plc (LSE: INF), suggests that consumers look now, as these historically low rates may be just the ticket they need to pare down their monthly mortgage payments (http://www.erate.com/current-mortgage-rates-30-year-fixed-mortgage-rates.htm).

“The first half of this year was the worst six-month period since the economic recovery began in June 2009,” said Frank Nothaft, chief economist of Freddie Mac.

A waning U.S. economy led investors to move money from stocks to bonds, which are commonly perceived as safer.  This has bumped Treasury yields to a very low level, and since mortgage rates have historically trended with the yield on the 10-year Treasury note, mortgage rates have reached new lows as well.

According to Informa Research Services, the national average rates on a 15-year fixed rate mortgage and 5-year ARM are 3.639% and 3.079%, respectively.  Consumers can lower their monthly mortgage payments significantly by refinancing a high rate mortgage with one with a lower rate attached.

One of the easiest ways to locate the lowest rates available is to check online rate tables. In addition to being able to sort the offers from various lenders, these tables often feature lenders who offer rates well below the current national average. For instance, AimLoan.com currently offers their 15-year fixed rate mortgage at a mere 3.375 (with no points) and their 5-year ARM features a rate of 2.625% (with no points).

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About Informa Research Services, Inc. (www.informars.com)
Since 1983, Informa Research Services, Inc., has provided the financial industry's most extensive array of market research, mystery shop, and decision-support information.

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