Refinance Mortgage Rates: How Low Will They Go?

You could just envision the smiles on the faces of every refinancing mortgage lender in the US after home loan rates dropped significantly during the holiday season of 2008.  Business for mortgage industry was very slow up to that point and many lenders actually closed their doors as tighter lending standards and gradually increasing interest rates caused home loan applications to very low levels.

Despite the fact that refinance applications have soared after the rate dips, there are still a significant number of prospective refinancing homeowners that didn’t pull the trigger, waiting instead for refinance mortgage rates to fall further.  There is too much uncertainty in the marketplace to accurately predict if refinance mortgage rates will fall further, but if you find yourself with a great rate lock opportunity at present, it would be a good idea to commit now.