04.02.09
Posted in Advice - Home Equity Loan Rates, Advice - Loan Rates, Advice - Mortgage Loan Rates, Advice - Refinance at 9:11 pm by Ken S.
Thank you for visiting the LowRateSearch.com blog. Click here to visit LowRateSearch.com. At LowRateSearch.com, you can find low rates on travel, loans, credit cards, & insurance too. 
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- Ken
www.LowRateSearch.com
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02.03.09
Posted in Advice - Loan Rates, Advice - Mortgage Loan Rates, Advice - Refinance at 5:17 pm by Ken S.
Property in California is valuable when seeking a mortgage refinance loan. The size of the economy in California is attractive to lenders funding mortgage refinance loans. As home to the core of the entertainment industry, and boasting prosperous agricultural, aerospace, petroleum, computer, and information technology industries, California ranks among the ten largest economies in the world.
In a state where there is a booming economy, a relatively younger demographic, and steady population growth, lenders foresee real estate in California becoming more and more valuable as the years go by. Because of this trend, they are willing to offer California residents low refinance rates on your mortgage in order to be chosen as the mortgage lender for your property. Why? The mortgage company technically owns your home until you pay the mortgage loan back, which on average takes 15-30 years. During that time, your home becomes a great asset as its value increases. It is a lender’s desire to have that asset (your home) as a part of their net worth, and not their competitor’s. In exchange for the opportunity to serve you, they will offer you the lowest interest rate they can on your mortgage loan.
Use their desire to your advantage. Since you live in California where real estate is very valuable, you should be paying low refinance rates. In just a few minutes, you can find out just how low the new refinance rates are. You may find that if you refinance your California mortgage, you can save a significant amount of money. The Wall Street Journal prime rate, the Federal Discount rate, the Fed Funds rate, and mortgage interest rates are all significantly lower today than they were a year ago. As a matter of fact, they are also all lower today than they were a few weeks ago. Take advantage of this trend now. Especially if you have property in California, you should take the time to make sure you are paying the lowest interest rate as possible. Why give your money away to a lender that is overcharging you interest, when you simply do not have to?
-Ken S.
Ken is the founder of www.LowRateSearch.com where you can find low rates on loans, credit cards, insurance, and travel deals too. Visit LowRateSearch.com now. Bad credit ok. We can help.
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10.26.08
Posted in Advice - Home Equity Loan Rates, Advice - Loan Rates, Advice - Mortgage Loan Rates, Advice - Refinance at 5:31 pm by Ken S.
Doesn’t it seem like EVERYBODY has bad credit? Big businesses, small businesses, banks, super-famous celebrities, and regular every day people. Some of the largest financial organizations in the country are filing bankruptcy or asking the government for help. Merrill Lynch, Lehman Brothers, and AIG Insurance all needed loans or they were going to have to file bankruptcy. Wow!
But check this out… When big businesses have bad credit, they get bailed out by big banks, other big businesses, or the federal government. These businesses get approved for multi-million and billion dollar loans, they get the lowest interest rates possible to keep them from going under. They may have to pay the ’Fed funds rate’ or the ‘discount rate’. According to Bankrate.com, as of 10/22/08, the Fed funds rate was 1.5%, and the discount rate was 1.75%. These low interest rates give them the opportunity to structure affordable repayments, even though they have bad credit.
Now when consumers are offered loans, those with the BEST credit are approved for low interest rates. As of this post, consumers with excellent credit could qualify for a 15 year fixed rate home loan with the low loan rate of 5.59%. People with bad credit, however, could pay home loan rates of 9% or more.
Let’s do the math. If you have good credit, a 15 year mortgage of $100,000 with a 5.59% interest rate would carry a monthly payment of $821.87. If you have bad credit, that same $100,000 mortgage with a 9% interest rate would carry a payment of $1014.27. That’s an extra $192.40 per month you have to pay just because of your bad credit score. Over the course of the loan, you will have paid an extra $34,632 more than the guy with good credit.
Ok, stick with me now…. Big businesses with bad credit get low interest rate loans. Consumers with bad credit get high interest rate loans. What gives? ‘Big business’ is a reflection of the economy. Big businesses have bad credit. Consumers are a reflection of the economy. Consumers have bad credit. So if everybody has bad credit, why is it that big businesess get a break with these low loan rates and consumers are left to struggle to pay even more for their loans? If everyone has bad credit, why don’t banks make it easier for EVERYONE to repay their loans. Having to pay an extra $200 bucks a month could mean the difference between making your mortgage payment, and not being able to make your mortgage payment.
Well I tell you one thing, LowRateSearch.com will continue to be diligent in offering consumers lots of help finding low loan rates, whether you have excellent credit, good credit, okay credit or even bad credit. And if you have bad credit and want some help repairing it so you can qualify for low rates too, we will match you with a legitimate credit repair company and/or a professional debt negotiator to help you get take control and get your credit report back on track. The higher the credit score, the lower the interest rates you can qualify for. We are here to help you with your bad credit repair so you too can get the lowest rates.
Ken S.
© 2008
Ken S. is the founder of www.LowRateSearch.com and makes it the company’s mission to help people save money with low loan rates, affordable insurance, and travel deals too.
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09.08.08
Posted in Advice - Auto Loan Rates, Advice - Home Equity Loan Rates, Advice - Loan Rates, Advice - Mortgage Loan Rates, Advice - Refinance at 6:40 pm by Ken S.
Hi everybody!
Exciting news. LowRateSearch.com has partnered with Bankrate® to help you find low loan rates. Now you can see the latest loan interest rates for different types of loans including mortgages, refinance, home equity, and auto loans.
More info on auto loans:
More info on mortgages:
More info on home equity loans:
For more low loan rates, low interest rates, low credit card rates, low insurance rates, and low travel rates, visit our homepage at www.LowRateSearch.com. We search for low rates, so you don’t have to.
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01.30.08
Posted in Advice - Refinance at 10:10 pm by Ken S.
Lower Fed Rate Helps Mortgage Refinancing – For the second time this week, the Federal Reserve reduced the federal funds rate by one-half point. This lower Fed rate helps mortgage refinancing. How? Here it is in a nutshell.
Think of money as an entity. It moves in, out, and around the economy constantly through purchases, returns, loans, investments, payments, re-payments, etc. At any given moment, hundreds of millions of people around the world are moving money around. To keep up with this movement, banks lend and borrow money, to and from each other, on a short term basis (usually overnight). The Federal funds rate is the interest rate the banks charge each other when they lend money to each other. Today, that interest rate is 3%.
So, the lower Fed rate helps mortgage refinancing like this: After the interest rate banks will charge each other is established, the banks establish the lowest rate they are going to charge to qualifying consumers and businesses. This rate is called the prime lending rate, the benchmark rate for consumer and business loans. When the Fed funds rate was lowered to 3%, banks announced they were lowering the prime lending rate from 6.5% to 6%. This has been the lowest prime interest rate since the spring of 2005.
If you remember, 2005 was back when everybody was buying a house or refinancing. Why was that? Because back then, people were getting really low mortgage and refinance rates, and their payments were affordable. Well that time is back and it’s happening now. Save yourself some money and take advantage of the lower rates while you can, the lower Fed rate definately helps mortgage refinancing.
- Ken S.
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