Mortgage rates drop below 4.5%. Homeowners scramble to refinance

Those looking to refinance would. in normal conditions. A 4.5% mortgage rate would prompt many people to buy, even if they fear home prices will continue to fall and the economy to weaken, he said..

Mortgage Rates Drop Below 4% – Housing Market Home Values. – By Mike Colpitts. Mortgage rates on the benchmark 30-year fixed rate home loan slipped below 4% for the first time this year, according to Freddie Mac. The drop in rates came as Treasury bonds fell below 2% propelling the move as consumer worries over the European debt crisis impacted U.S. financial markets.

A lower interest rate on your mortgage is one of the best reasons to refinance. When interest rates drop, consider refinancing to shorten the term of your mortgage and pay significantly less in.

What’s more, rates have come down from highs near 5% seen as recently as November. That drop represents a savings of $90 per month on a $300,000 mortgage. Consumers a flocking to refinance. No one knows how long this good fortune can last. Refinance applications surge 35% on low rates

Try our easy-to-use refinance calculator and see if you could save by refinancing. Estimate your new monthly mortgage payment, savings and breakeven point.

Mortgage rate spike finally hits housing market Mortgage Rates In 2017 Are Headed Where? Which Direction are Mortgage Rates Headed? The mortgage bankers association reported that a 30 year fixed mortgage rose to 4.73 percent from 4.61 percent and Freddie Mac released their weekly survey showing the average rate on a 30 year mortgage rose to 4.87 percent from 4.78 percent.

Compare mortgage rates from multiple lenders in one place. It’s fast, free, and anonymous.