Refinancing boomlet delivers savings to Tampa Bay homeowners who qualify
Gotta like this news from the Mortgage Bankers Association via the Associated Press:
Refinance applications climbed 18 percent from the previous week, the Mortgage Bankers Association reported Wednesday, as rates on 30-year home loans dropped to their lowest level in four months to 4.89 percent.
According to Zillow.com, Florida mortgage rates are running about a tenth of a point below the average national rate. So the most credit worthy borrowers can theoretically get 4.75 percent.
Alas, many of us in the Tampa Bay area have so depleted our equity - or had it depleted by the crumbling housing market - that we can't take advantage of these cheapo refi deals.
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Housing market news is the focus of the (Un)Real Estate blog. It offers an inside look at the Florida housing market and real estate news, with a focus on Tampa Bay. Its goal? Simple: To help you keep a roof over your head without losing your shirt.
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