Resources for Home Refinancing
filed under: Refinancing
Here is a summary of some of the resources you have to help with your refinancing decisions:
Weekly mortgage refinancing survey. The Mortgage Bankers Association, an industry trade group, publishes a weekly index of home purchase and refinancing applications. The survey also shows what percentage of total applications is for refinancing.
As yields on Treasury bonds and mortgage rates remaining fairly steady during 2007, the MBA's refinancing index was a modest 533.9 for the week ended December 28, 2007, an decrease of 20% over the same week in 2006.
Historical mortgage rate data. You can find historical data for the major categories of mortgage interest rates at the Web sites of Fannie Mae, Freddie Mac and Federal Home Loan Bank Board. The following table contains links to some of the major mortgage-rate indexes at these Web sites:
|Sources: Fannie Mae, Freddie Mac and Federal Home Loan Bank Board|
|30-year fixed-rate mortgage, 1971-present||15-year fixed-rate mortgage, 1991-present|
|1-year adjustable-rate mortgage, 1984-present||Cost of Funds Index|