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va loans: Record Low New York Mortgage Rates Boost Refinancing Requests
- 10/14/10 07:47 AM
In a telling sign, applications for mortgage refinancing climbed 21 percent last week, while home loan purchase applications fell 8.5 percent according to NYDailyNews.com.
"There are about 18.5 million households that should be in the hunt to refinance," says Mark Zandi, chief economist at Moody's.
This is really no surprise, as mortgage applications continue to jump up as mortgage rates stay at record lows. Really, rates haven't been this low since Eisenhower was president in the 50s!
So is refinancing right for you?
Historic Low New York Mortgage Rates
Evaluate your financial situation and see if refinancing is the right … (0 comments)
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va loans: New York Refinance Booms with Record Low Interest Rates
- 10/01/10 09:29 AM
Now is the best time refinance, there's no doubt about it.
Mortgage rates are at historic lows. This has caused a surge in refinancing by New York homeowners.
According to NYDailyNews.com, the number of refi applications has received rocketed more than 50% in the past month.
Restrictions on qualifying have tightened since the mortgage meltdown. So making sure you qualify is the first step to saving cash with a refinance.
"Unfortunately, there are a lot of people who can only read about the low interest rates," said Melissa Cohn, CEO of Manhattan Mortgage Co. "For those who qualify, it's huge."
Homeowners … (0 comments)
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In a telling sign, applications for mortgage refinancing climbed 21 percent last week, while home loan purchase applications fell 8.5 percent according to NYDailyNews.com.
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