Low mortgage rates boost refinance activity
Original post made on Jan 15, 2009
Read the full story here Web Link posted Wednesday, January 14, 2009, 6:00 AM
on Jan 15, 2009 at 2:30 pm
Unfortunately, these rosy "national average" statistics from the mortgage industry public relations folks only apply to conforming mortgages (< ~$400k). For those of us in Pleasanton (and most of California) who have to purchase and refinance our homes with jumbo mortgages, interest rates are still in the neighborhood of 7%. Meanwhile, home values have dropped and banks have substantially tightened lending rules. Refinancing is merely a fantasy for anyone who has purchased their Pleasanton/Bay Area home in the past 5-10 years.
on Jan 17, 2009 at 5:57 pm
I just got my $800K (90%) mortgage refi'd with a 30-year fixed at 5.375%. You just got to know where to look...
on Feb 12, 2009 at 10:19 am
Go to Web Link for information on re-financing or qualifying for a new mortgage for your Pleasanton Home.