What is a Fixed Rate Mortgage?
As the term implies, with a fixed rate mortgage the mortgage rate is fixed for a set period of time, so no matter what movements occur in the lender's standard variable mortgage rate, the borrower's arrangement is fixed and, therefore, so are the monthly fixed rate mortgage payments.A fixed rate mortgage would suit someone who likes to know where they stand.

Effective Home Loan Refinance ? Things That You Should Know
Home loan refinance can relieve you of very high interest rates or allow you to pay your existing mortgage But what are the things do you need to keep in mind

Choosing A Mortgage ? It?s Not All Fixed
If you are a homeowner looking to limit the effects of rising mortgage rates you should make sure you consider discount-rates as well as fixed-rates. Whilst fixed-rate mortgages give people certainty of payment, they may not have the cheapest cost over the life of the mortgage. Particular care should be taken when there is a prospect that interest rates may start to come down- in these circumstances taking out a three or five year fixed rate mortgage may be throwing money away.

Latest Mortgage Rates News
• Low mortgage rates have sparked a surge in refinancing activity, with nearly 80 percent of new home loan applications coming from borrowers seeking to refinance.
• Even though real estate sales are a little cold these days, mortgage refinancing is piping hot.
• Ask yourself the big question: "Why am I refinancing?" If you want additional money over and above the existing mortgage to pay off debt, don't refinance.
• In order to process the cash out required for mortgage refinancing, most lenders demand that your property have 5% equity.
• Banks Take Billions From TARP, but Give Fewer Loans.
• Walking away from mortgage is a bad idea for your credit score. If your score drops, you'll have more difficulty getting a car loan, obtaining new credit cards, or opening other new accounts.
• 2 new Obama programs aid homeowners with mortgages: the Making Home Affordable mortgage modification program expires Dec. 31, 2012. The mortgage refinancing program expires June 10, 2010.
• Mortgage refinancing applications up 15% according to weekly survey by Mortgage Bankers Assn. Same survey shows even bigger jump in refinancing applications -- 88% -- since Obama announced mortgage relief plan in mid-February.
• Now that mortgage refinancing is way up, lenders worry that there won't be enough money to keep up with the demand.
• The good news is that President Obama's new mortgage refinance program should help you if your mortgage is only 105 percent of the value of your property.
• Many banks have announced strong mortgage banking revenue for the first quarter thanks to declining interest rates and a surge in refinancing activity.
• If you're upside down, you can't refinance. And if you aren't, consider that refinancing isn't free -- it costs as much as 3 to 6 percent of the loan amount.
• If you can't afford your mortgage, other options include refinancing, loan modification, or selling your home.
• Prosecutors file charges against mortgage workers for allegedly scammed a couple by forging their mortgage refinancing.
• GMAC's mortgage unit has seen an increase in refinancing and jumbo loans. Enough so that it's hiring about 1000 people to help tackle the work.
• The Obama administration has pushed Fannie Mae to offer low-cost mortgage refinancing and waive loan standards to help curb foreclosures.
• House Financial Services Committee scheduled to hold hearing on mortgage reform legislation. Congressmen Brad Miller (D-CA) and Mel Watt (D-NC) pushing Mortgage Reform and Anti-Predatory Lending Act of 2009 to curb predatory lending.
• Mortgage Rate in US Rises to 4.87%, Freddie Mac Says.
• Low on cash? Consider an FHA home loan.
• Senator Charles Schumer (D-NY) is warning homeowners who are taking advantage of low mortgage rates by refinancing that they should beware of predators.
• TARP bankers are lending less and will prolong the recession.
• Jumbo mortgage rates decline, but availability is spotty.
• The time is right to refinance your mortgage. Rates are at historic lows - even lower than the rates several years ago that helped contribute to the housing boom.
• Demand for mortgage refinancing has blossomed as mortgage rates have fallen. Investors are snapping up risky credit instruments.
• Mortgage refinancing will be the stimulus that will bring us out of this economic recession.
• Most commercial lenders will insist on 20 percent equity to refinance a mortgage, but with an FHA-insured loan, you can refinance with as little as 3.5%.
• Consider refinancing your mortgage if you'll be staying in your home long enough to recover the cost of refinancing.
• The Real Estate Market Is Back! Benefits of FHA loans include easy loan modifications for borrowers who fall behind, easy refinancing plans if rates decline, and low interest rates.
• FICO Web Site May Help Homeowners Seeking Loan Modifications. Borrowers complete a confidential online form and should find out within seconds whether they may qualify for loan modifications or mortgage refinancing.