at current mortgage interest rates why homeowner can not get a new mortgege

current mortgage interest rates-since the mortgage rate is continuing to reduce.many people who bought the house before want to refinance   mortgage to reduce the monthly payment.however,when they revalued their house,they can not afford the payment for the housing down price.so that they can not get the bank re-credit.the Experts said that it is very clear in the region of Chinese population.the bank also hope to be able to make mortgage.but they must also consider the risk fo the laons.

since june 2003.the 30-year fixed rate has not been below 5%.but the current mortgage rate for 30-year have a record 4.25%.the experts said that the current interest rate has reached a nearly 8-year low record.it attracted many people who buy a house in this preiod to desire a new refiancing.

East West Bank branch manager PENG Li-ling said during this period many Chinese banks have put up the ads for a low interest rate  in Los Angeles.some banks in order to attract customers,even offered a free home loan application fees,free delivery cost of purchase / mortgage closing costs (closing fee) mortgage project (No Fee Mortgage Plus). Even so, it does not mean all people who apply new mortgage loans can be obtained.

since the seasonally adjusted,4.5% for the 30-year fixed mortgage interest rate has been maintained for several days, which are widely favored by the refinancing borrowers.and the bank could receive a lot of refinancing case every day.however,the people who want to refinance their house loans.because housing prices fell rapidly, often can not get loans from banks.PENG Li-ling said that unless you can pay the difference between the original loan and the new loans to the bank,or you can not get the new loans,since the bank have to protect the interests.Therefore, many people say bank loans is not easy, this is a very common factor.