My little rants on refinance home loan
Some consumers who would like to buy right now are finding that they are not eligible for mortgage loans like they once were. Lending standards have tightened significantly, which will exclude many buyers who would have qualified for mortgage loans a year or two ago. Current homeowners wonder if it is time to refinance their current mortgage loans under the new low interest rates. Applications for mortgage loans hit the highest level in five years last week. Over 75 percent of those were to refinance current mortgages.