Southern California Refinancing: Mortgage Rates Fall Again

By
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

310.502.9877

brookmanjb@gmail.com

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