Interest rates are down, do you need to refinance? Are you looking to buy a new home?

I have noticed in the past that when rates go down, they do not seem to stay down for very long. It seems they stay down for days, maybe weeks. Right now you can get a 30 year fixed-rate mortgage for somewhere around 4.75%, and you can get a 15 year fixed-rate mortgage for somewhere around 4.25%. The specifics will depend on the loan size, your credit score, the property type, property location, etc. Read the rest of this entry »