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 SPEAK TO A PROFESSIONAL?
LOANRATEUPDATE IS NOT A LENDER OR A BROKER BUT WE HAVE LOTS OF FRIENDS WHO ARE
Pick the service you desire below
Record Number of Refinancing Homeowners Maintain or Reduce Mortgage Balance
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 SPEAK TO A PROFESSIONAL?
LOANRATEUPDATE IS NOT A LENDER OR A BROKER BUT WE HAVE LOTS OF FRIENDS WHO ARE
Pick the service you desire below
Record Number of Refinancing Homeowners Maintain or Reduce Mortgage Balance
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
Record Number of Refinancing Homeowners Maintain or Reduce Mortgage Balance

May 31, 2012 (Jeff Alan)

American’s who refinanced their first lien mortgage in the first quarter of 2012 continued to take advantage of historically low interest rates and strengthen their financial balance sheets according Freddie Mac’s First Quarter Refinance Analysis.

Seventy-nine percent of the homeowners who refinanced their first lien mortgage either lowered their principal balance or maintained about the same loan amount after paying closing costs.

Twenty-one percent of the homeowners paid down their principal balance when they refinanced their mortgages in the first quarter, down from a record 49 percent in the fourth quarter of 2011, while 58 percent of the homeowners maintained about the same loan amount when they refinanced. The combined percentage of those who paid down their principal mortgage and those who maintained their same loan amount was at a 26-year high.

Twenty-one percent of all refinanced loans in the quarter were “cash-out” borrowers, those that increased their loan by at least five percent, up from 15 percent in the fourth quarter. Compare that to the average between 1985 and 2008, when 50 percent of the homeowners took cash out of their homes when they refinanced.

Borrowers, who refinanced their mortgages and converted equity to cash, took an estimated $5.3 billion in the quarter, the least amount of equity converted to cash since the third quarter of 1995 when adjusted for inflation.

Cash-out refinance volume peaked in the second quarter of 2006 at $83.7 billion. The amount of cash borrowers took out of their homes in the first quarter was less than six percent of that total amount.

For 30 year fixed rate mortgages, the median interest rate reduction during the quarter was about 1.5 percentage points, or about 27 percent below their initial rate, which allowed borrowers to save about $2,900 in interest payments in the first year of their loan with a principal of $200,000.

Frank Nothaft, Vice President and chief economist of Freddie Mac stated, “The typical borrower who refinanced reduced their interest rate by about 1.5 percentage points. On a $200,000 loan, that translates into saving about $2,900 in interest during the next 12 months. Fixed-rate mortgage rates hit new lows during March, with 30-year product averaging 3.95 percent and 15-year averaging 3.20 percent that month, according to our Primary Mortgage Market Survey®. The enhancements to HARP announced in October, such as removing the maximum loan-to-value limit, are beginning to show up in additional refinance volume during the first quarter. HARP loans were 20 percent of Freddie Mac’s refinance fundings during the first quarter, the highest share since HARP’s inception.”

Tags: Freddie Mac, home equity, borrowers, refinance, cash-out, cash-in, principal, interest, interest rate reduction

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

May 31, 2012 (Jeff Alan)

American’s who refinanced their first lien mortgage in the first quarter of 2012 continued to take advantage of historically low interest rates and strengthen their financial balance sheets according Freddie Mac’s First Quarter Refinance Analysis.

Seventy-nine percent of the homeowners who refinanced their first lien mortgage either lowered their principal balance or maintained about the same loan amount after paying closing costs.

Twenty-one percent of the homeowners paid down their principal balance when they refinanced their mortgages in the first quarter, down from a record 49 percent in the fourth quarter of 2011, while 58 percent of the homeowners maintained about the same loan amount when they refinanced. The combined percentage of those who paid down their principal mortgage and those who maintained their same loan amount was at a 26-year high.

Twenty-one percent of all refinanced loans in the quarter were “cash-out” borrowers, those that increased their loan by at least five percent, up from 15 percent in the fourth quarter. Compare that to the average between 1985 and 2008, when 50 percent of the homeowners took cash out of their homes when they refinanced.

Borrowers, who refinanced their mortgages and converted equity to cash, took an estimated $5.3 billion in the quarter, the least amount of equity converted to cash since the third quarter of 1995 when adjusted for inflation.

Cash-out refinance volume peaked in the second quarter of 2006 at $83.7 billion. The amount of cash borrowers took out of their homes in the first quarter was less than six percent of that total amount.

For 30 year fixed rate mortgages, the median interest rate reduction during the quarter was about 1.5 percentage points, or about 27 percent below their initial rate, which allowed borrowers to save about $2,900 in interest payments in the first year of their loan with a principal of $200,000.

Frank Nothaft, Vice President and chief economist of Freddie Mac stated, “The typical borrower who refinanced reduced their interest rate by about 1.5 percentage points. On a $200,000 loan, that translates into saving about $2,900 in interest during the next 12 months. Fixed-rate mortgage rates hit new lows during March, with 30-year product averaging 3.95 percent and 15-year averaging 3.20 percent that month, according to our Primary Mortgage Market Survey®. The enhancements to HARP announced in October, such as removing the maximum loan-to-value limit, are beginning to show up in additional refinance volume during the first quarter. HARP loans were 20 percent of Freddie Mac’s refinance fundings during the first quarter, the highest share since HARP’s inception.”

Tags: Freddie Mac, home equity, borrowers, refinance, cash-out, cash-in, principal, interest, interest rate reduction

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

May 31, 2012 (Jeff Alan)

American’s who refinanced their first lien mortgage in the first quarter of 2012 continued to take advantage of historically low interest rates and strengthen their financial balance sheets according Freddie Mac’s First Quarter Refinance Analysis.

Seventy-nine percent of the homeowners who refinanced their first lien mortgage either lowered their principal balance or maintained about the same loan amount after paying closing costs.

Twenty-one percent of the homeowners paid down their principal balance when they refinanced their mortgages in the first quarter, down from a record 49 percent in the fourth quarter of 2011, while 58 percent of the homeowners maintained about the same loan amount when they refinanced. The combined percentage of those who paid down their principal mortgage and those who maintained their same loan amount was at a 26-year high.

Twenty-one percent of all refinanced loans in the quarter were “cash-out” borrowers, those that increased their loan by at least five percent, up from 15 percent in the fourth quarter. Compare that to the average between 1985 and 2008, when 50 percent of the homeowners took cash out of their homes when they refinanced.

Borrowers, who refinanced their mortgages and converted equity to cash, took an estimated $5.3 billion in the quarter, the least amount of equity converted to cash since the third quarter of 1995 when adjusted for inflation.

Cash-out refinance volume peaked in the second quarter of 2006 at $83.7 billion. The amount of cash borrowers took out of their homes in the first quarter was less than six percent of that total amount.

For 30 year fixed rate mortgages, the median interest rate reduction during the quarter was about 1.5 percentage points, or about 27 percent below their initial rate, which allowed borrowers to save about $2,900 in interest payments in the first year of their loan with a principal of $200,000.

Frank Nothaft, Vice President and chief economist of Freddie Mac stated, “The typical borrower who refinanced reduced their interest rate by about 1.5 percentage points. On a $200,000 loan, that translates into saving about $2,900 in interest during the next 12 months. Fixed-rate mortgage rates hit new lows during March, with 30-year product averaging 3.95 percent and 15-year averaging 3.20 percent that month, according to our Primary Mortgage Market Survey®. The enhancements to HARP announced in October, such as removing the maximum loan-to-value limit, are beginning to show up in additional refinance volume during the first quarter. HARP loans were 20 percent of Freddie Mac’s refinance fundings during the first quarter, the highest share since HARP’s inception.”

Tags: Freddie Mac, home equity, borrowers, refinance, cash-out, cash-in, principal, interest, interest rate reduction

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