With mortgage rates at historic lows and mortgage applications down over 12% from last week, now may be the best time to refinance. Since applications are down, mortgage brokers now have more time to search for the best deal for you. This fact, compounded with near historic low rates, could translate into good news for homeowners.
Mortgage applications for purchases are now at a 13 year low and refinance volume dropped 14.3 from the previous week, according to an AP article from 6/9/2010
Click here for an article from Reuters about mortgage rates.
Click here for an article from the AP.