Refinance Mortgages Heat Up

The continued buoyant news of mortgage rate reductions over the past 3 months has certainly been warm news to Atlanta home mortgage lenders struggling with a cooling housing market.  US refinance mortgage loan applications are on fire at the present time with almost 44% of all recent mortgage applications being refinance mortgage application.  In nearly all of these cases, refinancing on 15 or 30 year fixed-term mortgage rates are being sought and overall the refinancing housing mortgage rate as seen an overall increase of 9.5%. 

With the continued healthy fall in 5-year adjustable-rate mortgage rates matching those falls in the 30 and 15 year fixed-rate mortgage rates week-on-week of late, however, brave US homeowners may well be adopting a ‘wait and see’ approach to whether now is a good time to jump ship and refinance their home mortgage loan on more favorable terms.  With US bond and economic data indicating a cooling economy, however, fortune may be favoring the brave.