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Connie Said:

What's a good mortgage refinance rate right now?

We Answered:

Try to hold out for 4.5% fixed for a 15 year loan. There is always the possibility of a 3.5% rate if the economy does not recover by summer..

Frances Said:

Where to find the current refinance mortgage rate?

We Answered:

When you finance a mortgage you lock into a rate such that the market trends up or down do not effect your rate until the loan closes. Thus a search for a new index is moot. This is a great question for your individual loan officer.

Sue Said:

Which bank offers the lowest interest rate for mortgage refinance in California?

We Answered:

find the best rate you can find and then add 1% (1 point is what is the standard to add when dealing with an investment home)

A mortgage broker is supposed to find you the best rate from all the companies she works with. If you don't have a good one shop around.

Here is a website to find the average and best rates:
http://www.bankrate.com/brm/default.asp

Viola Said:

Should I refinance my mortgage interest rate?

We Answered:

Dear Springstun,

Let us look at it this way. Firstly no institution gives out a loan and does not require the interest on the loan because that is their profit on which the wheel of the business is oiled. No profit, no business.

You would always be required to PAY BACK WHAT YOU OWE.

Now this is the other side of it. You must have signed documents and agreements when you were about to take the loan. It is possible, and it happens sometimes, that an incentive is placed in the agreement you signed, that stipulates that if you are able to pay consistently according to the payment terms(without defaulting) or that you were able to pay a particular percentage within a particular period or before a stipulated date, etc. It is possible that you could be rewarded with a waver of the rest portion of the interest.

I would advise you to look at your payment agreements again.maybe the employee is very familiar with you documents and knows that you are supposed to be enjoying this incentive for your prompt payments.
It could also be a company policy which may not have been written but the employees know of it.

This is what you will do.

1. Check you agreements and all the documents you signed and used for the loans and see if there is any incentive what soever pointing to what that employee has said.
2. Look within your local area or country or where you stay and see if there is a law by the government on issues like this that has given you the right for a waving off of the rest of the interest at this stage of your payments.
3. then go and see the employee's boss or the man in authority, the final authority on these issues in their office and confirm if the employee's claims are true. This is if there is no legislation that gives you that right.

But you need to know that what you signed is sacrosanct and binding on you both. it is a very long shot, depending on you experience on these kind of issues before you took the loan.

Do a little more research, I wish I could have been there with you so you could know all you should do as the events unfold.

You can only do what you have signed to do. This waver can only be authenticated if and only if by the federal or local law you are entitled to the waver or the lenders decide that by exgratia they will allow you not to pay the remaining interest that they have such a policy and it was not captured in the agreement and as such they will give it to you.

Do a little more research on the links I will provide you below, take you time there, there are a ton of info behind those links and let me know if my answer was helpful.

Remember all loans and interests are meant to be paid unless as stated above.

Anita Said:

Need to Refinance an adjustable rate mortgage with so-so credit?

We Answered:

Depends on how much you owe.
FHA refinances go up to 95%, with rates lower than 7%
You will still need to qualify with the county limits.

You can still try conventional....and have the lender pay PMI...

Darlene Said:

I want to refinance my mortgage due to the recent low rate. Should I wait longer?

We Answered:

Honestly the rate changing a little bit doesn't make a huge difference. 4.9% is a great rate and waiting longer takes on a risk of it going up too. I'd just lock in now and get your payments down. The longer you wait, the longer you are making your higher payments too.