Search:

News by Subject
Complete list of specialty news sections.

Mortgage Advertising
Reach mortgage executives, loan originators and other people tied to mortgage industry.

Mortgage Industry News
Subscription-based news for people who work in real estate finance.

Mortgage Newsletter
Free e-mail newsletter with the latest headlines from MortgageDaily.com.

Mortgage News Reprints
Put entire MortgageDaily.com stories in your online or printed newsletter or publication.

Mortgage Feedget RSS code
Condensed MortgageDaily.com stories for your web site or for your RSS reader.

News Archives
Archive of news entries.

Mortgage Statistics
Data and statistics for real estate finance.

Mortgage Graphs
Directory of lenders, branch operators and mortgage service providers.
home advertise email RSS about us
 
HOT Topics Rates Glossary LO License Search
Consumer Mortgage News
Free mortgage news for current and prospective borrowers from a leading online mortgage industry news publication.



Falling Mortgage Rates Mean Refinance Opportunity

Good time to refinance mortgage, experts say

June 8, 2016

By RACHEL MURRAY Dayton Daily News - Tribune News Service


If you are hoping for a lower monthly mortgage payment, shorter terms, or a fixed rate, experts say now is a good time to get moving to refinance.

Lee Charters of Huber Heights, Ohio, said she refinanced her condo in February to pay it off more quickly.

"I went from a 30 year to a 15 year mortgage and I'm really glad I did it," said Charters, adding that her payment only increased about $4 a month.

"It is always a good time to finance when rates are low and rates are still at historically low levels. Fifteen year interest rates are still in the high twos and you can do a 30 year fixed in the mid to high threes," said Cindi Pegg, production manager with PrimeLending in Dayton.

On Monday, Federal Reserve chair Janet Yellen indicated that the economy is improving, but still uncertain, so it's unclear when interest rates will rise again.

"They'll have the intention of increasing rates, and then some bad economic data will come out that will have them hold off again," said Pegg.

If you are looking to refinance your mortgage, lenders now need to verify everything about you, according to Pegg.

Typically, you will need two months of bank statements, your W-2 for the past two years, and 30 days of pay stubs to get the process started.

A refi might not be for you if your home value hasn't increased enough to gain equity, or your credit score has taken a hit since you bought your home, said Pegg.

next story

back to home page


To see more of Dayton Daily News or to subscribe to the newspaper, go to www.daytondailynews.com

Copyright (c) 2016, Dayton Daily News

Distributed by Tribune News Service.


This story was distributed by TNS - Tribune News Service
 
Refinance News
News about refinance programs, pricing and production.
H A R P 2.0 News
News stories about the H o m e Affordable Refinance Program including expanded program guidelines.





Copyright © 2016 MortgageDaily.com
MortgageDaily.com Subsribers Only:

AMC directory

ARM indexes

mortgage company directory

mortgage regulations

net branch directory

pricing engine directory

wholesale lender directory

More Mortgage News Resources (MortgageDaily.com full site map):

advertising news

appraisal news

bank news

biggest lenders

commercial mortgage news

corporate mortgage news

credit news

FHA news

financial regulation news

foreclosure news

free mortgage news

GSE news

jumbo mortgage news

interest rates

loan modification news

loan originator survey

LOS Newsletter

MBS

mortgage associations

mortgage-backed securities

mortgage books

mortgage brokers

mortgage compliance

mortgage conferences

mortgage directories

mortgage education

mortgage employment

mortgage employment index

mortgage executives

mortgage fraud

mortgage fraud blog

mortgage fraud local news

Mortgage Fraud Index

Mortgage Graveyard

mortgage insurance news

mortgage lawsuits

mortgage leads

mortgage lender ranking

mortgage licenses

mortgage litigation

Mortgage Litigation Index

Mortgage Market Index

mortgage mergers

mortgage news

mortgage politics

mortgage press releases

mortgage production

mortgage public relations

mortgage rates

mortgage servicing

mortgage statistics

mortgage technology

mortgage video

mortgage Webinars

net branch

net branch directory

nonprime news

origination news

originator tools

refinance news

reverse mortgage news

sales blog

secondary marketing

servicing news

subprime news

wholesale lenders

wireless mortgage news