Rising Mortgage Rates Motivate Homeowners to Refinance Now While They Still Can, Reports Rate State

Rate State explains why U.S.A. Today's recent article shows problems ahead for homeowners who choose to sit on their refinancing options.

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In an effort to help those without time for much comparison lender shopping, Rate State has offered its no obligation tool for anyone to make use of.

Seattle, Washington (PRWEB) July 01, 2013

Rate State, the provider of a free loan comparison tool, urges homeowners to refinance, while they still can. An article published June the 27th by U.S.A. Today focuses on the currently rising rates, highlighting the need for quick action on the part of homeowners who still wish to catch the refinance train.

The article focuses on exactly how fast these rates have jumped in the last week, saying, “Mortgage buyer Freddie Mac said Thursday that the average rate on the 30-year fixed loan jumped to 4.46% this week, the highest level since June 2011. That's up from 3.93% from the previous week. It was the largest weekly increase in the 30-year rate since April 1987, Freddie Mac said.”

Rate State explains that this translates to “refinance now” for anyone not fluent in investor speak. The article goes on to mention that many of the less qualified homeowners have already dropped out of the race to refinance, due to the rising rates. With 3% fewer applications than last week, anyone who can refinance, should find the time as soon as possible.

In an effort to help those without time for much comparison lender shopping, Rate State has offered its no obligation tool for anyone to make use of. They also pride themselves in providing good advice on their website, as a resource to homeowners.

http://www.ratestate.com/about/

Rate State helps consumers compare today’s mortgage rates through their online comparison tool to ensure they are getting the best rate for their home mortgage or refinance before making their next purchase. They provide consumers with access to the information they need in order to make a decision potentially saving thousands of dollars over the term of their next home loan.