Southern California Refinancing: Mortgage Rates Fall Again

Services for Real Estate Pros with JB Brookman Photography

The time for refinancing your home may never have been better.  Mortgage rates have fallen again, sparking a rise in home refinance activity.

The average rate on a 30-year fixed-rate loan fell to 4.90 percent last week from 4.97 percent two weeks ago. This is just fractions of a point higher than the lowest that rates have ever been.

At the current 30-year rate, monthly borrowing costs for each $100,000 of a loan would be $530.73, or about $84 less than the same week a year earlier, when the rate was 6.24 percent.

The average rate on a 15-year fixed mortgage fell to 4.33 percent from 4.34 percent the prior week. 

For those who qualify, this is a glimmer of great news in an otherwise negative recession.

Please, call- to see if you qualify today.  Remember that rates are subject to change multiple times a day and are not guaranteed to stay the same. 

JB Brookman


CA RE Lic # 01742676

Comments (2)

Kathryn Acciari
Central One Federal Credit Union - Shrewsbury, MA
Mortgage Loan Originator

JB, it is exciting to see the rates stay so low.  Very smart of you to blog about them. 

Nov 16, 2009 11:25 PM
JB Brookman
JB Brookman Photography - Franklin, TN
High School Senior Portrait Photographer

Thanks, Kathryn!  Yes, there are so many families that can benefit from these low mortgage rates and refinancing.  The good news has to be spread:)

Nov 17, 2009 04:31 AM