California Refinance Rates Still Near Record Lows - Guide Helps Homeowners Decide If They Should Take This Opportunity to Refinance

Share Article recently released a guide that can help California residents to find the California refinance rates. is a trusted destination for current mortgage news and expert loan advice. The team at is devoted to help empower both first time and experienced homeowners with valuable resources, first-class knowledge and connections to top-rated industry professionals. The website offers a number of great informational articles and online tools and resources that can help borrowers to find the best California home loans available. A recent guide on gives homeowners advice on how to find the best California refinance rates that will enable them to save both time and money.

The Loan Love article explains: “Today’s interest rates remain at all-time record lows, and that means it might be a good time to consider refinancing your home loan, especially if you’ve had it for several years. Refinancing can help you get a lower interest rate or allow you to change the length, or “term,” of your mortgage, making it more affordable for you. Of course, every homeowner’s situation is different, and there are a lot of factors that can determine whether or not refinancing is the best choice for you.”

The article lists different scenarios which would make it advisable to refinance. For California homeowners, for example, the low mortgage rates California is seeing would make now an ideal time to look into refinancing their home loans. If the current interest rates are lower than when the loan was originally locked in, a refinance could mean big savings. The Loan Love article says: “If the new loan has an interest rate that’s at least a half point lower than your current rate, it usually makes sense to refinance; the greater the difference between your current rate and the new rate, the more savings you’ll experience.”

Other factors that may make it a good idea to refinance are if the borrower’s credit score has improved since originally taking out the loan or an increase in the borrower’s income which would mean that they can take on higher monthly payments. For the first factor, having an improved credit score, lenders are more likely to give lower interest rates to those with better credit. So if the borrower’s score has improved since they took out their original mortgage, they might qualify for a significantly lower rate. Many lenders have also lowered their credit requirements in recent years which can also help the homeowner’s ability to qualify for a lower rate. Higher income, and a willingness to pay a bit more each month, also means that a homeowner can switch to a shorter term that will allow them to pay off their home more quickly – and often at a lower rate – than a long-term mortgage.

The Loan Love article says: “Today’s lenders have made the refinancing process simpler than ever, and most loan approval decisions are made the same day you apply, which means there’s no long, nerve-wracking waiting period. Take a good look at your situation, and if a refinance seems like it might make sense for you, go ahead and take the plunge: With the potential to save tens of thousands of dollars, it just might be one of the best financial decisions you’ve ever made.”

For more information on the refinance process and how to find the best California refinance rates, visit for the full article.

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Kevin Blue
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