About Government Refinance and Home Purchase Programs

Information and Updates on Government Mortgage Programs
Filed under Government Mortgage Financing Programs News

President Obama wisely counseled Americans to look into refinancing now while the federal government is still working hard to push mortgage interest rates to historic lows. Here is a quote from an AP article on his remarks:

Declaring “good news” in the midst of an economic meltdown, President Barack Obama on Thursday urged families to take advantage of near-record low mortgage rates by refinancing their home loans. “We are at a time where people can really take advantage of this,” Obama said, seated with a handful of homeowners who have already lowered their bills.

But he also warned people to watch out for scam artists, cautioning, “If somebody is asking you for money up front before they help you with your refinancing, it’s probably a scam.”

Rates on 30-year mortgages inched upward this week but remain near the lowest level in decades, allowing borrowers with strong credit and stable jobs to save money if they refinance.

The average rate on a 30-year fixed-rate mortgage rose to 4.87 percent this week, up from 4.78 percent last week, Freddie Mac reported Thursday. That was the lowest in the history of the survey, which dates back to 1971.

If you think a refinance would be useful to you, fill in the contact form in the sidebar and one of our refinance specialists will be in touch with you soon to go over your situation and get an estimate to you.

Comments (0) Posted by G.R.A. Admin on Thursday, April 9th, 2009


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