Refinance Archives

Homeowners are flocking to refinance their mortgages, using today’s low rates to slash monthly payments, often by hundreds of dollars. Read more»

By manybanking.com StaffWith mortgage rates at record lows, it’s no surprise that many homeowners are looking into refinancing their existing mortgages. For those who have sufficient home equity, this can be a relatively straightforward process. Read more»

By Jeff BrownDeciding whether to refinance a mortgage is pretty straightforward comparison of costs versus savings, if you’ll replace an old fixed-rate loan with a new one. Read more»

By Jeff BrownHomeowners are in a refinancing stampede, eager to lock in today’s dirt-cheap interest rates. But in the rush to slash monthly payments by hundreds of dollars, are they cheating themselves for the long term? Read more»

By Alan Zibel -- AP Real Estate Writer WASHINGTON (AP) — Mortgage brokers and small lenders say they've been left out of a big part of the Obama administration's plan to help borrowers refinance their home loans and take advantage of near record-low interest rates. Read more»

By Ben Feller WASHINGTON (AP) — President Barack Obama says millions of Americans can save money by refinancing their homes and taking advantage of record low rates on fixed mortgages. Read more»

By Jeff Brown These days nearly 80 percent of mortgage applications are for refinancing, according to the Mortgage Banker’s Association. It’s not surprising. The manybanking.com survey shows 30-year fixed rate mortgages averaging a stunningly low 5.05 percent. Homeowners with older loans, especially those with risky adjustable-rate mortgages, can reap terrific savings by locking in today’s rock-bottom rates. Read more»

By Alan Zibel -- AP Real Estate WriterWASHINGTON (AP) — Though lenders are boosting their attempts to curb record-high home foreclosures, fewer than half of loan modifications made at the end of last year actually reduced borrowers' payments by more than 10 percent, data released Friday show. Read more»

By Jeff BrownA congressional proposal to give bankruptcy judges authority to modify mortgages has died. Senate Democrats withdrew the proposal April 3 in face of strong opposition from Republicans and the banking industry. Read more»