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Mortgage Refinance Rates on 15 Year Mortgage Loans as Low as 2.25 Percent
 

Mortgage Refinance Rates on 15 Year Mortgage Loans as Low as 2.25 Percent

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The headlines of record low mortgage rates continue week after week. A few years ago nobody believed mortgage rates today would be this low. Current mortgage rates on 15 year conforming loans just hit another record low of 2.75 percent, down from the prior week's record low of 2.79 percent. The reason why today's mortgage rates are at record lows is because of one government institution, the Federal Reserve.

The Federal Reserve has been on a campaign of getting mortgage interest rates lower and lower to help the housing market and the brooder economy recover. There has been three different round of quantitative easing by the Fed to drive mortgage rates to record lows. The Fed has bought and continues to by mortgage-backed securities (MBS). The Fed has also sold short term Treasuries and bought long term Treasuries to drive long term interest rates lower as well.

The Fed's policies have been a boom to home owners to have a mortgage loan. Millions of home owners have refinanced their mortgage to a lower refinance rate. In fact, many home owners have refinanced more than once over the past couple of years. Mortgage rates are expected to move even lower the rest of 2012 and into 2013 which might entice some people to refinance their mortgage a third time.

Speaking of refinancing if you're looking for a 15 year refinance rate you have come to the right place. We list lenders offering the lowest refinance rates in all states and the District of Columbia. California refinance rates on 15 year conforming loans can be found as low as 2.25 percent with points and without points.

On our 15 year mortgage refinance rates list for the state of New York we see lenders offering 15 year refinance rates as low as 2.50 percent with points. If you can't afford the higher monthly payments that accompany a 15 year loan you can find the lowest 30 year refinance rates on our rate lists as well. Right now on our 30 year refinance rates list for New York there are lenders offering rates as low as 3.00 percent with points which is an incredibly low rate since 30 year mortgage rates are averaging a lot higher at 3.45 percent.

Author: Robert Till
October 15th, 2012