In the 2010 State of the Union Address, President Barack Obama said, “This year, we will step up refinancing so that homeowners can move into more affordable mortgages.”
The big question, as the Wall Street Journal pointed out, is how?
Zillow’s own data, taken from real-time mortgage rates based on thousands of custom mortgage quotes submitted daily to anonymous borrowers, shows that while overall loan request volume is quite strong, the latest refinance boom appears to be dwindling.
Many experts forecast rates to rise this year, so if you’re considering a refinance, now is a good time to start shopping. An easy way to shop for a mortgage is through Zillow Mortgage Marketplace.
- Submit a refinance loan request, anonymously, and receive unlimited custom quotes from lenders.
- Use the interactive Break-Even Point Graph to determine how long you need to live in your home to offset the cost of refinancing.
- After comparing quotes side-by side (inclusive of all lender fees), and reading lender reviews and ratings, you decide which lenders to contact… they don’t call you.