{"id":1900,"date":"2016-02-09T15:45:58","date_gmt":"2016-02-09T15:45:58","guid":{"rendered":"http:\/\/riverbankfinance.com\/blog\/?p=1900"},"modified":"2016-02-09T16:40:48","modified_gmt":"2016-02-09T16:40:48","slug":"mortgage-rates-have-dropped-to-recent-lows","status":"publish","type":"post","link":"https:\/\/riverbankfinance.com\/blog\/mortgage-rates-have-dropped-to-recent-lows\/","title":{"rendered":"Mortgage Rates have Dropped to Recent Lows"},"content":{"rendered":"<figure id=\"attachment_1901\" aria-describedby=\"caption-attachment-1901\" style=\"width: 655px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/riverbankfinance.com\/blog\/mortgage-rates-have-dropped-to-recent-lows\/freddie-mac-mortgage-rates\/\" rel=\"attachment wp-att-1901\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-1901 size-full\" src=\"https:\/\/riverbankfinance.com\/blog\/wp-content\/uploads\/2016\/02\/freddie-mac-mortgage-rates.jpg\" alt=\"average mortgage rates 2016\" width=\"655\" height=\"450\" srcset=\"https:\/\/riverbankfinance.com\/blog\/wp-content\/uploads\/2016\/02\/freddie-mac-mortgage-rates.jpg 655w, https:\/\/riverbankfinance.com\/blog\/wp-content\/uploads\/2016\/02\/freddie-mac-mortgage-rates-300x206.jpg 300w\" sizes=\"auto, (max-width: 655px) 100vw, 655px\" \/><\/a><figcaption id=\"caption-attachment-1901\" class=\"wp-caption-text\">Interest rate chart data from <a href=\"http:\/\/www.freddiemac.com\/pmms\/\">Freddie Mac mortgage rates<\/a> based on US weekly average survey.<\/figcaption><\/figure>\n<p>Mortgage rates have dropped again officially hitting the lowest levels in one year which is\u00a0near historic lows. According to the Freddie Mac weekly mortgage survey, rates are as low as 3.72% for a 30 year fixed rate mortgage and as low as 3.01% for a 15 year fixed rate mortgage.<\/p>\n<p>If you have been considering refinancing your mortgage now is the time to lock in a low rate. With falling oil prices, stock investors have been getting nervous and fleeing to more stable and safe investments such as government bonds and mortgage backed securities. This demand to buy bundled mortgages has driven mortgage rates to recent record lows.<\/p>\n<p><a title=\"Apply for a Michigan Mortgage Refinance\" href=\"http:\/\/riverbankfinance.com\/refinance-my-mortgage-home-loan.html\"><input id=\"searchsubmit\" class=\"button aligncenter\" type=\"submit\" value=\"Apply for a Mortgage Refinance\" \/><\/a><\/p>\n<h2>Refinance to Drop Mortgage Insurance<\/h2>\n<p>In additional to low mortgage rates, home values have been setting records for appreciation. The rise in home values may make it possible to drop mortgage insurance (PMI) which is required on most loans with less than 20% equity.<\/p>\n<h2>Refinance to a 15 Year Mortgage<\/h2>\n<p>Other homeowners may choose to refinance from higher rate 30 mortgages to low 15 year fixed rates and keep their mortgage payment low. Paying a mortgage off 15 years sooner has the potential to save thousands in mortgage interest.<\/p>\n<h2>Refinance from a FHA loan to a Conventional loan<\/h2>\n<p>Government backed mortgages, such as FHA loans, are a popular mortgage option for those with smaller down payments. While government loan\u00a0rates may be low, they typically have higher monthly PMI than conventional mortgages. \u00a0Higher property values may allow homeowners to refinance from a FHA mortgage to a conventional loan and save significantly on their monthly payments.<\/p>\n<p>For more information on your refinance options call a loan officer today at 800-555-2098 or request information below.<\/p>\n\n<div class=\"wpcf7 no-js\" id=\"wpcf7-f185-o1\" lang=\"en-US\" dir=\"ltr\" data-wpcf7-id=\"185\">\n<div class=\"screen-reader-response\"><p role=\"status\" aria-live=\"polite\" aria-atomic=\"true\"><\/p> <ul><\/ul><\/div>\n<form action=\"\/blog\/wp-json\/wp\/v2\/posts\/1900#wpcf7-f185-o1\" method=\"post\" class=\"wpcf7-form init\" aria-label=\"Contact form\" novalidate=\"novalidate\" data-status=\"init\">\n<fieldset class=\"hidden-fields-container\"><input type=\"hidden\" name=\"_wpcf7\" value=\"185\" \/><input type=\"hidden\" name=\"_wpcf7_version\" value=\"6.1.6\" \/><input type=\"hidden\" name=\"_wpcf7_locale\" value=\"en_US\" \/><input type=\"hidden\" name=\"_wpcf7_unit_tag\" value=\"wpcf7-f185-o1\" \/><input type=\"hidden\" name=\"_wpcf7_container_post\" value=\"0\" \/><input type=\"hidden\" name=\"_wpcf7_posted_data_hash\" value=\"\" \/><input type=\"hidden\" name=\"_wpcf7_recaptcha_response\" value=\"\" \/>\n<\/fieldset>\n<div class=\"application_form\">\n\t<div class=\"block_top\" id=\"apply_form\">\n\t<\/div>\n\t<div class=\"spacer_top\">\n\t<\/div>\n\t<div class=\"ApplyFullHeader\">\n\t\t<p class=\"replaceheader\">Request Home Loan Information Now!\n\t\t<\/p>\n\t<\/div>\n\t<div class=\"blueBox\">\n\t\t<p><span class=\"wpcf7-form-control-wrap\" data-name=\"your-name\"><input size=\"40\" maxlength=\"400\" class=\"wpcf7-form-control wpcf7-text wpcf7-validates-as-required\" aria-required=\"true\" aria-invalid=\"false\" placeholder=\"Your Name (required)\" value=\"\" type=\"text\" name=\"your-name\" \/><\/span>\n\t\t<\/p>\n\t\t<p><span class=\"wpcf7-form-control-wrap\" data-name=\"your-email\"><input size=\"40\" maxlength=\"400\" class=\"wpcf7-form-control wpcf7-email wpcf7-validates-as-required wpcf7-text wpcf7-validates-as-email\" aria-required=\"true\" aria-invalid=\"false\" placeholder=\"Your Email (required)\" value=\"\" type=\"email\" name=\"your-email\" \/><\/span>\n\t\t<\/p>\n\t\t<p><span class=\"wpcf7-form-control-wrap\" data-name=\"your-phone\"><input size=\"40\" maxlength=\"400\" class=\"wpcf7-form-control wpcf7-text wpcf7-validates-as-required\" aria-required=\"true\" aria-invalid=\"false\" placeholder=\"Phone:\" value=\"\" type=\"text\" name=\"your-phone\" \/><\/span>\n\t\t<\/p>\n\t\t<p><span class=\"wpcf7-form-control-wrap\" data-name=\"your-goal\"><select class=\"wpcf7-form-control wpcf7-select\" aria-invalid=\"false\" name=\"your-goal\"><option value=\"Purchase\">Purchase<\/option><option value=\"Refinance\">Refinance<\/option><option value=\"Cash Out\">Cash Out<\/option><option value=\"More Information\">More Information<\/option><\/select><\/span>\n\t\t<\/p>\n\t\t<p><span class=\"wpcf7-form-control-wrap\" data-name=\"your-message\"><textarea cols=\"40\" rows=\"10\" maxlength=\"2000\" class=\"wpcf7-form-control wpcf7-textarea\" aria-invalid=\"false\" placeholder=\"Your Message:\" name=\"your-message\"><\/textarea><\/span>\n\t\t<\/p>\n\t\t<p><span class=\"wpcf7-form-control-wrap\" data-name=\"referer-page\"><input size=\"40\" maxlength=\"400\" class=\"wpcf7-form-control wpcf7-text referer-page\" aria-invalid=\"false\" value=\"\" type=\"text\" name=\"referer-page\" \/><\/span><br \/>\n\t\t\n\t\t<\/p>\n\t\t<p><input class=\"wpcf7-form-control wpcf7-submit has-spinner submit\" type=\"submit\" value=\"Submit Now!\" \/>\n\t\t<\/p>\n\t<\/div>\n\t<div style=\"text-align: justify; color:#666666;font-size: small;\">\n\t\t<p>By clicking \"Submit Now!\", you consent to receive calls and texts at the number you provided, including marketing by autodialer and prerecorded and artificial voice, and email, from Riverbank Finance LLC about your inquiry and other home-related matters, but not as a condition of any purchase; this applies regardless of whether you check, or leave un-checked, any box above. You also agree to our Privacy Policy and Terms of Use regarding the information relating to you. Msg\/data rates may apply. This consent applies even if you are on a corporate, state or national Do Not Call list. This no obligation inquiry does not constitute a mortgage application. To apply now or get immediate assistance, call us at 1-800-555-2098.\n\t\t<\/p>\n\t<\/div>\n<\/div><p style=\"display: none !important;\" class=\"akismet-fields-container\" data-prefix=\"_wpcf7_ak_\"><label>&#916;<textarea name=\"_wpcf7_ak_hp_textarea\" cols=\"45\" rows=\"8\" maxlength=\"100\"><\/textarea><\/label><input type=\"hidden\" id=\"ak_js_1\" name=\"_wpcf7_ak_js\" value=\"238\"\/><script>\ndocument.getElementById( \"ak_js_1\" ).setAttribute( \"value\", ( new Date() ).getTime() );\n<\/script>\n<\/p><div class=\"wpcf7-response-output\" aria-hidden=\"true\"><\/div>\n<\/form>\n<\/div>\n\n","protected":false},"excerpt":{"rendered":"<p>Mortgage rates have dropped again officially hitting the lowest levels in one year which is\u00a0near historic lows. According to the Freddie Mac weekly mortgage survey, rates are as&hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[301,307,1,305],"tags":[736,735,739,737,734,4,125,738],"class_list":["post-1900","post","type-post","status-publish","format-standard","hentry","category-buying-a-home","category-fha-mortgage","category-local-michigan","category-refinance-2","tag-15-year-mortgage-refinance","tag-average-mortgage-rates","tag-drop-pmi","tag-fha-to-conventional-refinance","tag-freddie-mac-mortgage-rates","tag-mortgage-rates","tag-mortgage-refinance","tag-remove-pmi"],"aioseo_notices":[],"aioseo_head":"\n\t\t<!-- All in One SEO 4.9.10 - aioseo.com -->\n\t<meta name=\"description\" content=\"Now is a great time to refinance your mortgage to drop PMI, refinance from a FHA loan to Conventional loan or refinance to a 15 year mortgage.\" \/>\n\t<meta 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