Refis are All the Rage

Mortgage rates are at their lowest level in 37 years, motivating homeowners to refinance their existing mortgages. 

Loan request activity on Zillow Mortgage Marketplace increased 162% in December vs. November and the types of loans borrowers are looking for has shifted:  two-thirds of all loan requests received on Zillow in December were for refinance loans, compared to only one-third during the previous month.  The refi frenzy is continuing in January as well.  So far this month, more than 60% of all loan requests are for refinances.

 

Do you have an adjustable-rate mortgage or a loan with a high rate?  You may want to see if it makes sense to refinance.  It’s simple to shop for the best rate on Zillow Mortgage Marketplace:

1. Submit a loan request–it’s free and anonymous
2. Receive customized loan quotes from a network of thousands of lenders
3. Review the quotes, then you decide who to contact–they don’t call you.

Happy loan shopping!

January 8, 2009