Compare Today's Refinance Rates - Pureloan.com



Are you searching for the best mortgage refinance rate? Should you be refinancing the already active mortgage loan? Shall we call it ‘double trouble’ with all the complex procedures? The experts say “Yes” with a downward trend in the interest rates. It is not so simple to locate the lenders either. Many factors matter like the favourable credit score rating of over 740.

A glance at the ongoing Refinance rates

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Check out Lender A to know the way the winds are blowing. One would prefer shorter-term loans for the refinance with the target of reducing the overall loan duration. What about the 15-year fixed refinance? Assuming a $200,000 loan in zip code 95464, you pay a 4.625%  interest rate for the 15-year fixed refinance. If the 20-year fixed seems attractive, the interest rate is 5.625%. Longer durations attract higher rates. Strangely enough, the 30-year fixed refinance also charges 5.625%.

Shorter terms also include the 10y/6m, 7y/6m and 5y/6m ARM variable loans. They charge 5.125%, 5% and 4.625% interest respectively. Don’t jump to conclusions based on a single source. We need to check the APR and monthly payments too before taking crucial decisions.

Don’t forget that best refinance loans carry several important advantages. Not only is the loan duration reduced sometimes drastically but hefty money savings may be achieved. After changing from mortgage to refinance, you save on the interest payments each month. Getting rid of mortgage insurance and cashing out your equity for other purposes are some additional benefits.

Regarding mortgage interest rates that are an indicator for refinance rates, the 30-year fixed mortgage rate fell 2 basis points today. The 30-year fixed mortgage fell 28 basis points compared to one week ago. Don’t you think that refinance loans are appropriate now? Don’t overthink and avoid excessive delay. Make decisions now.

Have you found the Best Refinance Rates?

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By best we mean the lowest but be on guard. There could be hidden costs that are not directly revealed. Take your time and get all the doubts clarified. Work online and offline too. Consult several persons before deciding. 

Talking of national averages, 5.590% is the interest rate for the 30-year fixed refinances APR. Similarly, 4.910% is the interest rate APR for the 15-year fixed refinance.  It is obvious that many lenders in order to attract clientele offer rates well below the national average. Do these figures seem right?

What is Lender B saying? Study a few quotations for the 30-year fixed refinance. The first wants 4.625% with APR 4.814%, upfront costs $6939 and monthly $1645. The second quotation is asking for a rate of 4.750% with APR 4.881%, upfront $4787 and monthly $1669. The third quotation demands a rate of 4.690%, APR 4.904%, upfront $7795 and monthly $1658.

The Best Refinance Rates mystery!

Take a last look at the 30-year fixed quote that asks for a 3.250% rate. The 15-year wants 2.500% and the 5/1 ARM requires 3.125%.

 

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