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It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateUpdate and the offers you have received, you've found the right product and the best rate.
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LOANRATEUPDATE IS NOT A LENDER OR A BROKER BUT WE HAVE LOTS OF FRIENDS WHO ARE
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Fixed Rate Mortgages Still The Choice of Refinancers
HOW LOANRATEUPDATE WORKS
READ OUR DISCLOSURE
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateUpdate and the offers you have received, you've found the right product and the best rate.
READY TO TAKE IT TO THE NEXT LEVEL?
LOANRATEUPDATE IS NOT A LENDER OR A BROKER BUT WE HAVE LOTS OF FRIENDS WHO ARE
Pick the service you desire below
Fixed Rate Mortgages Still The Choice of Refinancers
HOW LOANRATEUPDATE WORKS
READ OUR DISCLOSURE
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateUpdate and the offers you have received, you've found the right product and the best rate.
LOANRATEUPDATE IS NOT A LENDER OR A BROKER BUT WE HAVE LOTS OF FRIENDS WHO ARE
Pick the service you desire below
Fixed Rate Mortgages Still The Choice of Refinancers

September 11, 2012 (Chris Moore)

Regardless of whether their previous loan was a fixed rate mortgage (FRM) or an adjustable rate mortgage (ARM), borrowers chose a fixed-rate mortgage over 95 percent of the time when they refinanced their existing first mortgage during the second quarter of 2012 according to Freddie Mac’s Quarterly Product Transition Report.

Thirty percent of the borrowers who refinanced chose a 15-year or a 20-year mortgage to replace their original loan, down from thirty-five percent in the first quarter. Only three percent chose an adjustable rate loan. Sixty-seven percent of the borrowers stayed with the same term of their original loans.

By comparison, twenty-five percent of the borrowers who refinanced through the government’s Home Affordable Refinance Program (HARP) shortened their new loan term to either 15 or 20 years.

Borrowers whose original first mortgage was a hybrid ARM chose a fixed rate loan eighty-one percent of the time during the quarter, up from sixty-eight percent in the first quarter. Nineteen percent of borrowers who refinanced a hybrid ARM chose to refinance into the same type of product, down from thirty-two percent in the previous quarter.

Borrowers who refinanced through HARP and whose original loan was an ARM chose a fixed-rate mortgage ninety-five percent of the time while non-HARP borrowers stayed with another ARM about one-half of the time.

Frank Nothaft, vice president and chief economist of Freddie Mac, stated, “Fixed mortgage rates averaged 3.79 percent for 30-year loans and 3.04 percent for 15-year product during the second quarter in Freddie Mac’s Primary Mortgage Market Survey®, well below long-term averages and the lowest quarterly averages recorded in our survey. The Bureau of Economic Analysis has estimated the average coupon on single-family loans was about 5.0 percent during the second quarter of 2012. It’s no wonder we continue to see strong refinance activity into fixed-rate loans.”

Refinancing borrowers whose original loan was a 30-year FRM chose another 30-year FRM sixty-six percent of the time, a 20-year FRM twelve percent of the time and a 15-year FRM twenty-one percent of the time. That compares to sixty-four, fourteen, and twenty-one percent, respectively, in the first quarter.

Borrowers who originally had a 15-year FRM chose to stay with that product eighty-six percent of the time while eleven percent lengthened the term of their loans to 30 years and one percent lengthened their loans to 20 years. That compares to eighty-nine, eight, and one percent, respectively, from the previous quarter.

Tags: Freddie Mac, refinancing borrowers, Transition Report, fixed rte mortgage, adjustable rate mortgage, hybrid ARM, interest rate savings

Source:
Freddie Mac

What's the four square system? How much is your trade-in really worth and why those payments really do seem a little higher than you thought.
There's both advantages and disadvantages to leasing and buying depending on what you're planning to use your car for and how long you plan on keeping it.
Sure that low interest dealer financing sounds really attractive but there's a price to be paid for that. We spill the beans as to why getting your own financing may save you money.
Buying a car at a dealership hasn't changed much through the years but doing your research on the internet can you save you a lot of time and most importantly, a lot of money.
THINKING OF BUYING
A NEW CAR?


WE GIVE YOU THE INSIDE TIPS THAT
COULD SAVE YOU THOUSANDS.
Calculate how much you can afford
BUYING OR SELLING A HOME IS A BIG DECISION
WE MAKE IT EASIER
Buying a home is a big decision. If you are not prepared, the decisions you make, the questions you don’t ask, and the details you miss could cost you thousands – in price, fees, financing, property issues, and home repairs.
Home loans can be confusing. There's a lot of options and we provide the information that makles it simple. Don't sign on that dotted line until you know. It could cost you.
FIND THE CREDIT CARD THAT'S RIGHT FOR YOU
THERE'S A CREDIT CARD FOR VIRTUALLY ANY SITUATION. FIND YOURS.
YOU'VE WORKED HARD TO BUILD YOUR DREAM

LEARN ABOUT THE LOAN OPTIONS AVAILABLE TO EXPAND YOUR BUSINESS

September 11, 2012 (Chris Moore)

Regardless of whether their previous loan was a fixed rate mortgage (FRM) or an adjustable rate mortgage (ARM), borrowers chose a fixed-rate mortgage over 95 percent of the time when they refinanced their existing first mortgage during the second quarter of 2012 according to Freddie Mac’s Quarterly Product Transition Report.

Thirty percent of the borrowers who refinanced chose a 15-year or a 20-year mortgage to replace their original loan, down from thirty-five percent in the first quarter. Only three percent chose an adjustable rate loan. Sixty-seven percent of the borrowers stayed with the same term of their original loans.

By comparison, twenty-five percent of the borrowers who refinanced through the government’s Home Affordable Refinance Program (HARP) shortened their new loan term to either 15 or 20 years.

Borrowers whose original first mortgage was a hybrid ARM chose a fixed rate loan eighty-one percent of the time during the quarter, up from sixty-eight percent in the first quarter. Nineteen percent of borrowers who refinanced a hybrid ARM chose to refinance into the same type of product, down from thirty-two percent in the previous quarter.

Borrowers who refinanced through HARP and whose original loan was an ARM chose a fixed-rate mortgage ninety-five percent of the time while non-HARP borrowers stayed with another ARM about one-half of the time.

Frank Nothaft, vice president and chief economist of Freddie Mac, stated, “Fixed mortgage rates averaged 3.79 percent for 30-year loans and 3.04 percent for 15-year product during the second quarter in Freddie Mac’s Primary Mortgage Market Survey®, well below long-term averages and the lowest quarterly averages recorded in our survey. The Bureau of Economic Analysis has estimated the average coupon on single-family loans was about 5.0 percent during the second quarter of 2012. It’s no wonder we continue to see strong refinance activity into fixed-rate loans.”

Refinancing borrowers whose original loan was a 30-year FRM chose another 30-year FRM sixty-six percent of the time, a 20-year FRM twelve percent of the time and a 15-year FRM twenty-one percent of the time. That compares to sixty-four, fourteen, and twenty-one percent, respectively, in the first quarter.

Borrowers who originally had a 15-year FRM chose to stay with that product eighty-six percent of the time while eleven percent lengthened the term of their loans to 30 years and one percent lengthened their loans to 20 years. That compares to eighty-nine, eight, and one percent, respectively, from the previous quarter.

Tags: Freddie Mac, refinancing borrowers, Transition Report, fixed rte mortgage, adjustable rate mortgage, hybrid ARM, interest rate savings

Source:
Freddie Mac

What's the four square system? How much is your trade-in really worth and why those payments really do seem a little higher than you thought.
There's both advantages and disadvantages to leasing and buying depending on what you're planning to use your car for and how long you plan on keeping it.
Sure that low interest dealer financing sounds really attractive but there's a price to be paid for that. We spill the beans as to why getting your own financing may save you money.
Buying a car at a dealership hasn't changed much through the years but doing your research on the internet can you save you a lot of time and most importantly, a lot of money.
THINKING OF BUYING
A NEW CAR?


WE GIVE YOU THE INSIDE TIPS THAT
COULD SAVE YOU THOUSANDS.
Calculate how much you can afford
BUYING OR SELLING A HOME
IS A BIG DECISION
WE MAKE IT EASIER
Buying a home is a big decision. If you are not prepared, the decisions you make, the questions you don’t ask, and the details you miss could cost you thousands – in price, fees, financing, property issues, and home repairs.
Home loans can be confusing. There's a lot of options and we provide the information that makles it simple. Don't sign on that dotted line until you know. It could cost you.
FIND THE CREDIT CARD THAT'S RIGHT FOR YOU
THERE'S A CREDIT CARD FOR VIRTUALLY ANY SITUATION. FIND YOURS.
YOU'VE WORKED HARD TO BUILD YOUR DREAM

LEARN ABOUT THE LOAN OPTIONS AVAILABLE TO EXPAND YOUR BUSINESS

September 11, 2012 (Chris Moore)

Regardless of whether their previous loan was a fixed rate mortgage (FRM) or an adjustable rate mortgage (ARM), borrowers chose a fixed-rate mortgage over 95 percent of the time when they refinanced their existing first mortgage during the second quarter of 2012 according to Freddie Mac’s Quarterly Product Transition Report.

Thirty percent of the borrowers who refinanced chose a 15-year or a 20-year mortgage to replace their original loan, down from thirty-five percent in the first quarter. Only three percent chose an adjustable rate loan. Sixty-seven percent of the borrowers stayed with the same term of their original loans.

By comparison, twenty-five percent of the borrowers who refinanced through the government’s Home Affordable Refinance Program (HARP) shortened their new loan term to either 15 or 20 years.

Borrowers whose original first mortgage was a hybrid ARM chose a fixed rate loan eighty-one percent of the time during the quarter, up from sixty-eight percent in the first quarter. Nineteen percent of borrowers who refinanced a hybrid ARM chose to refinance into the same type of product, down from thirty-two percent in the previous quarter.

Borrowers who refinanced through HARP and whose original loan was an ARM chose a fixed-rate mortgage ninety-five percent of the time while non-HARP borrowers stayed with another ARM about one-half of the time.

Frank Nothaft, vice president and chief economist of Freddie Mac, stated, “Fixed mortgage rates averaged 3.79 percent for 30-year loans and 3.04 percent for 15-year product during the second quarter in Freddie Mac’s Primary Mortgage Market Survey®, well below long-term averages and the lowest quarterly averages recorded in our survey. The Bureau of Economic Analysis has estimated the average coupon on single-family loans was about 5.0 percent during the second quarter of 2012. It’s no wonder we continue to see strong refinance activity into fixed-rate loans.”

Refinancing borrowers whose original loan was a 30-year FRM chose another 30-year FRM sixty-six percent of the time, a 20-year FRM twelve percent of the time and a 15-year FRM twenty-one percent of the time. That compares to sixty-four, fourteen, and twenty-one percent, respectively, in the first quarter.

Borrowers who originally had a 15-year FRM chose to stay with that product eighty-six percent of the time while eleven percent lengthened the term of their loans to 30 years and one percent lengthened their loans to 20 years. That compares to eighty-nine, eight, and one percent, respectively, from the previous quarter.

Tags: Freddie Mac, refinancing borrowers, Transition Report, fixed rte mortgage, adjustable rate mortgage, hybrid ARM, interest rate savings

Source:
Freddie Mac

THINKING OF BUYING
A NEW CAR?


WE GIVE YOU THE INSIDE TIPS THAT
COULD SAVE YOU THOUSANDS.
What's the four square system? How much is your trade-in really worth and why those payments really do seem a little higher than you thought.
There's both advantages and disadvantages to leasing and buying depending on what you're planning to use your car for and how long you plan on keeping it.
Sure that low interest dealer financing sounds really attractive but there's a price to be paid for that. We spill the beans as to why getting your own financing may save you money.
Buying a car at a dealership hasn't changed much through the years but doing your research on the internet can you save you a lot of time and most importantly, a lot of money.
Calculate how much you can afford
BUYING OR SELLING A HOME IS A BIG DECISION
WE MAKE IT EASIER
Buying a home is a big decision. If you are not prepared, the decisions you make, the questions you don’t ask, and the details you miss could cost you thousands – in price, fees, financing, property issues, and home repairs.
Home loans can be confusing. There's a lot of options and we provide the information that makes it simple. Don't sign on that dotted line until you know. It could cost you.
FIND THE CREDIT CARD THAT'S RIGHT FOR YOU
THERE'S A CREDIT CARD FOR VIRTUALLY ANY SITUATION. FIND YOURS.
YOU'VE WORKED HARD TO BUILD YOUR DREAM

LEARN ABOUT THE LOAN OPTIONS AVAILABLE TO EXPAND YOUR BUSINESS