Mortgage rates are now at very attractive levels for the spring housing market and for mortgage refinancing , renewals and debt consolidation. Here are some new product specials as of February 14/2013.
- 5 year variable rate mortgage at prime minus 0.40% or 2.60% currently
- 5 year fixed rate at 2.89% for insured or conventional mortgages
- 4 year fixed rate mortgage at 2.79% for insured purchases only
- 3 year fixed rate mortgage at 2.69% for insured or conventional mortgages
All of the above terms come with 20% prepayment privileges, 20% payment increase option and are portable and assumable.
Some lenders are also offering free legal services for mortgage refinancing which can save you up to $1000 in legal fees. If you have any outstanding debt balances then you should consider to refinance your mortgage and save money on high interest credit cards, credit lines and other loans. You can increase monthly cash flow substantially and save money.