Mortgage Rates Rising Doesn't Mean You Can't Refinance!

Mortgage rates have just reached a 5 month high as the recovery starts to rebound from the recession. It is likely that rates will continue to rise as new data about job growth and increased consumer spending will prop the rates increasingly higher. While high unemployment rates continue to keep the U.S. in a recession, this is the third straight quarter that has shown economic growth. In general, this is a good sign. In order for a full return of the economy, however, employment needs to shy away from 10%. It has hovered there for more than 18 months now. The signs that it will do so are not all aligned.

Even though mortgage rates are at a five month high, don’t let that scare you into not fixing your home loan. In fact, the end of the recession should convince you that now is the perfect time for loan modification help. And if mortgage rates grow, it will be slowly, in line with the GDP of the economy. So, the sooner the better for home mortgages refinance. Home loan modification can help you move from your current payment to a significantly less amount of money each month.