Mortgage Loan Rates Today Currently Low Refinance

Sept. 30, 2012 - PRLog -- In today’s mortgage loan reports it is yet another historic time for low mortgage rates and to answer the question; ‘should I refinance now’, the reply is a resounding yes. With 30 year mortgage loan rates below 3.5% and 15year mortgage rates below 3% you simply can’t go wrong.

To see what the current mortgage rates are today:
http://wealthsmith.com/mortgage-rates.htm

Even with the economy in an unstable position, mortgage rates and refinance are top subjects among financial analysts for several reasons. With historical low mortgage rates you have to assume that the economy is struggling to get money moving and nothing will do this faster that low mortgage rates.

Whether the real estate market is recovering, which by the way it is in general, or it is not, people will jump at refinance when the effect of their monthly readjustment of debt can be reduced significantly.

It is no secret that the majority of U.S homeowners are living more from a monthly budget balance than ever before in the most recent past. American families are still watching with baited breath to see if either the Democrats or Republicans are offering any positive financial outlook in the near future.

Reverse mortgages have seen their biggest gains in popularity over the past several months and this is another indicator that fixed income homeowners are seeing this process as a means of keeping their homes and still being able to afford the rising cost of living.

It is important to know that reverse mortgages are best suited for couples or individuals that do not have immediate descendants In which to leave an inheritance to. Those with children who could benefit from an inheritance windfall should seriously consult with their children before committing to a reverse mortgage agreement.

Adjustable rates are also enticing right now with their low mortgage rates as well, but in light of the low fixed rate mortgages, it would be wise to avoid the adjustable rate mortgages since they are limited to how long they could stay low after committing yourself to their long term conditions and rate adjustments.

It is a good rule of thumb that if you can save at least $100 a month on a $100,000 mortgage refinance decision, then it makes sense to do so. The time it would take to recover the added expenses of the mortgage loan refinance is minimal and your monthly savings can be felt in the short term.