Refinance requests on Zillow Mortgage Marketplace are up 20% so far this month versus August. The chart below shows that lower mortgage rates appear to be driving this spike in demand.
In an effort to continute to prop up the financial markets, the Federal Reserve’s policy-setting panel just announced that it plans to continue purchasing mortgage-backed securities into next year. This activity should help to keep mortgage rates at low levels.
So with rates this low, now is a great time to see if it makes sense to refinance.
Last 5 posts in Finding a Loan on Zillow
- Home Refinancers Save $3 Billion - November 2nd, 2009
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- New Refinance Break-Even Point and Savings Graph - October 1st, 2009
- Plain Vanilla Protection vs. Consumer Education - September 24th, 2009
- New Graphs Dynamically Display Loan Details - August 19th, 2009
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- Categories: Finding a Loan on Zillow, Mortgage Rates, Refinance, mortgages
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Low Rates Cause Surge in Refinance Loan Requests | Mortgages Unzipped | Get Out Of Debt
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