payments drop 10-4Mortgage rates drop and are down for the 4th straight week in a row. Currently we are nearing 4% on a 30 year fixed loan. Compared to the recent peak in August, the payment on a $300,000 loan has dropped more than $50/month. That’s a huge drop in only a 4 week span. See chart showing weekly payment changes for a 300,000 loan over the last 3 months.

Coastlend Mortgage has the lowest closing costs and interest rate combination in the market. If you are trying to qualify for HARP’s refinance program, the one that allows you to refinance with little or no equity, Coastlend Mortgage can help. Make sure to give us a call right away as HARP is not going to last forever. Neither will these ultra low rates. With rates having dropped so much in the last month, it’s a second chance for many of those who missed the boat earlier in the year. These gains could all evaporate once the government shutdown ends, so act fast.