Mortgage rates, a review of the facts
Making matters worse are the mortgage loans at adjustable interest rates that will reset soon. Many predict that will contribute to the already overburdened inventory of homes. Although there may be buyers ready to deal in light of the current low interest rates, many of them may not qualify for mortgage loans. Banks now have much more restrictive lending practices, resulting in less mortgage loans being awarded to applicants than there were prior to the credit crisis. Current homeowners wonder if it is time to refinance their current mortgage loans under the new low interest rates.