- Refinancing is "worth the hassle" when mortgage rates are as low as they are today
- The best rates are reserved for homeowners with the highest credit scores
- Comparison shop -- your current mortgage lender may not offer you the best rates
Are You Wasting $471 Per Month On Your Mortgage?
http://www.msnbc.msn.com/id/32545640
According to Freddie Mac's weekly mortgage rate survey, for 13 straight weeks, the average 30-year fixed rate mortgage has held below 4.000% for mortgage applicants willing to pay up to 0.8 discount points plus a full set of closing costs.
These are the lowest mortgage rates in history and now -- with a bevy of loan programs for the nation's 11 million "underwater homeowners" including HARP, the FHA Streamline Refinance, and the VA IRRRL -- millions of U.S. homeowners can exploit the current mortgage rate environment.
In this 4-minute clip from NBC's The Today Show, you'll learn about today's mortgage market and your refinancing opportunities.
The video begins by telling us that 14 million credit-worthy Americans have yet to refinance their respective mortgages, and are leaving an average of $471 in "wasted savings" on the table each month which adds up to more than $5,600 annually.
That's a big number.
Some of the video's other key points include :
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