Refinancings are Expected to Decline by Martin Lukac
Frank Nothaft, chief economist for Freddie Mac, says that refinancings are expected to decline this year. Nothaft predicts that refinancings will only make up around 30% of all mortgage applications by the fourth quarter of 2006. This is partly due to rising interest rates this year. ... He expects mortgages for home purchases to remain stable. ... The total amount of mortgage debt to reset this year is $1.2 trillion, or 15% of all loans. ... He pointed out that from 2001 to 2004, the nation was experiencing a refi-boom period, in which refinancings constituted over 50% of mortgage loans.

You Might Still Want to Refinance by Martin Lukac
Even though rates are on the rise, that doesn't mean you shouldn't refinance. Practically everyone has refinanced or thought about it at one point in time. We've seen the dozens of commercials that urge us to do it. With rates at record lows over the past few years, refinancing has helped many... They end up with one mortgage for 80% of the value of the home and a second mortgage for 10%. ... The gap between the rate of a adjustable mortgage and a fixed mortgage has narrowed so much that you really don't save much by taking the adjustable mortgage.

Home Mortgage Refinancing by Peter Emerson
The arena of mortgage refinancing is increasing every day. People understand the economics of mortgage refinancing. They are making small home improvements and upgrading homes by utilizing the current low interest rates, which is resulting in greater savings and lower monthly payments. ... The refinancing of home mortgages has many benefits, such as lower interest rates and improved saving levels, shorter mortgage term to become debt-free sooner, and cashing out on existing home equity to meet urgent personal expenses.

Refinance Home Loans with Bad Credit – Knowing When to Refinance by Carrie Reeder
Do you want a lower monthly payment? Perhaps you prefer to switch your adjustable rate mortgage to a fixed rate. If this sounds familiar, refinancing your home may serve to your advantage. In the past five years, mortgage interest rates have dropped dramatically. ... Another reason for refinancing a home includes receiving a shorter term, which may also boost a home's equity One benefit to refinancing a home with poor credit is that homeowners may receive a lump sum at closing. ... Refinance involves creating a new home mortgage, and homeowners must re-apply for a home loan.

Advantages of Refinancing Your FHA Home Mortgage Loan by L. Sampson
When interest rates fall, it is a good time refinance your house. You can even refinance if you want to do some debt consolidation. Taking advantage of the programs offered by the government, in the form of FHA home mortgage loan refinances, can be a great way to have a streamlined process, and... Here are some of the advantages of refinancing your FHA home mortgage loan: · Programs that reduce your interest rate at no cost · Options that allow refinancing your FHA home mortgage loan at no cost · The credit qualifications and the income qualifications are more lenient than other lender...

Bad Credit Home Mortgage Refinance - Pro's and Con's of Refinancing Home Mortgage by Carrie Reeder
If you purchased your home during a time when mortgage interest rates were high, you have probably considered refinancing your home mortgage for a cheaper rate. In recent years, interest rates have dropped significantly. Thus, allowing many to save thousands on their home mortgage. ... For starters, refinancing affords you the opportunity to "cash-out" your home's equity at closing. ... Refinancing your home loan with poor credit has several advantages. ... While refinancing with bad credit is ideal for receiving cash from your home's equity, if you have a low credit rating, finding a...

Deducting Points On Home Refinances by Richard Chapo
Deduction of Refinance Points Any points that you pay in the refinancing of your residence are tax deductible over the length of the loan in question. The deduction is allowable only if the residence is your primary home and the new mortgage replaces a previous one and/or is used to improve the... If you refinance a mortgage, you accelerate the deductible amount of points from the first mortgage and may claim the points from the first mortgage all at once. ... As an example, assume that I refinanced my home in January 2004 and paid $3,000 in points.

Home Loans Refinance Options - Refinance Two Mortgages Into One by Carrie Reeder
With two mortgages, it is tempting to consolidate the home loans into one refinanced mortgage. But, this isn’t always in your best interest. Depending on a number of factors, you may find that refinancing separately may qualify you for better rates. Refinancing Options For Multiple Mortgages... Do the Math Before Refinancing Mortgage To find the answer to which option is the best, you will have to do a little math. ... So in some cases, you may find that keeping your low rate original loan while refinancing the higher rate second mortgage will save you the most money.

Financing a Second Home: 2nd Mortgage Loan Versus Refinance by Maria Ny
Second homes account for a full 40% of all homes sold in America. According to a recent annual report by the National Association of Realtors (NAR), 27.7% of all homes purchased in 2005 were investment properties and 12.2% were vacation homes. About 65% of second-home owners surveyed by the NAR... Cash-out mortgage refinancing and second mortgages are typically the ways homeowners finance second home down payments, home improvements and home construction on primary residences and second homes. ... A cash-out mortgage refinance involves refinancing an existing mortgage with a higher...

Refinance Your 1st Mortgage by Carrie Reeder
Refinancing your first mortgage has several benefits. Of course, each situation is different. Thus, some homeowners may not benefit from a refinance. The process of refinancing is similar to obtaining the original mortgage. Homeowners receive quotes from various lenders, compare services, and... Those considering refinancing their first mortgage have several options. ... Fixed Another incentive for refinancing a first mortgage is to receive a fixed rate. ... Individual with a past interest rate of 8 or 9 percent received a dramatic reduction in mortgage payments after receiving rates of...