If you’re looking to refinance a home and have cash and good credit, now is a good time to pull the trigger. Yesterday the government announced the latest Federal golden bandaid: a pledge to inject $800 billion directly into the credit markets, news which pushed national average mortgage rates for a 30 year fixed to 5.81%, down from 6.07%, according to bankrate. Bankrate also suggest that if you’re trying to refi to act quickly, before rates rise or home values drop.
ReFi Time: Mortgage Rates Drop On New $800 Billion Intervention
By Ben Popken November 26, 2008
More From Consumerist
- Airbnb Hosts Having Difficulty Refinancing Homes
- Home Renters Pay Up to 47% More For Car Insurance Than Homeowners
- Store-Branded Credit Cards Charge Upwards Of 29% Interest
- Some Banks Offering Tech Employees Mortgages With No Down Payment
- Would You Break Up With Someone For Having A Bad Credit Score?