It might seem to be a little odd to wish a financial institution “Happy Mother’s Day,” but Palm State Mortgage Company does so today, in honor of the quarterly refinance analysis published by Freddie Mac for the first quarter of this year.

The recent Freddie Mac Refinance Report greeted us with an optimism we are finding shared by many in the mortgage industry this spring season.
We are also sure that many mothers, happy to be secure in home ownership, will be celebrating Mother’s Day joyously due to Freddie, and the decision to refinance. .

Thus, Palm State Mortgage Company recognizes Freddie Mac with a Happy Mother’s Day wish.
In fact, sincere Mother’s Day Wishes go out from Palm State Mortgage to all the Mothers, Moms, and Mommies among our clients, friends and family!

Palm State Looks At The Freddie Mac’s First Quarter Trends and Numbers!

You know we love statistics here at Palm State Mortgage Company, so let’s see how the Freddie Mac Refinance Report reflects our new spring optimism for home ownership.

In fact, let’s look at the six items below as:

Six Reasons To Consider A Refinance Loan in 2015!

1.  Borrowers Are Feeling More Secure:  A whopping 27 percent of borrowers increased their loan amount when they refinance their current home.ThinkstockPhotos-148173128

They might have used equity or they might have consolidated loans.  This is a great contrast from the mere 17 percent increase taken on by borrowers last year.

2.  Re-Fi Borrowers Are Shortening Their Term:   A little over a third (34%) of the home-owners who borrowed in order to refinance during the first quarter of 2015 shortened the term of their loan.

3.  Refinancing With HARP is Working Well:  Likewise, holding true to a trend of the last four quarters, over a third of the HARP borrowers shortened their term.

4.  More Heavenly HARP Joy:  Homeowners who did their refinance through HARP averaged a rate possible reduction of 1.8 percentage points. That translates into about $3,500 in interest during the first 12 months, which could mean an “extra” $290 per month on about a $200,000 home.

5.  A Fixed Rate Triumph:  Over 95 percent of refinancing borrowers picked a fixed-rate loan. Typically fixed-rate loans were borrowers’ preferences even if a different loan type had been used in the original home deal. “76 percent of borrowers who had a hybrid ARM refinanced into a fixed-rate loan during the first quarter. In contrast, only 3 percent of borrowers who had a fixed-rate loan chose an ARM.”

You can read more good housing news, and keep up with the housing industry and financial developments at this convenient online resource. Happy Mother's Day, Freddie Mac, and Happy Home Refinancing by Palm State Mortgage.

6.  Cheers for Property Value:  According to Freddie Mac, the median property value was up 5 percent between the dates of placement of the original loan and the new refinance loan. Len Kiefer, Freddie Mac deputy chief economist stated, “We estimate that borrowers who refinanced in the first quarter will save on net more than $1.4 billion in interest payments over the first 12 months of their new loan.”

Combine all these statistics with the April raise in home builder confidence, as evidenced by the National Home builder’s Reports, and you can see why home ownership could be in your future.

For help in finding your perfect home mortgage situation, we hope you remember Palm State Mortgage is here for you.

So, if you are a Mom, and if you refinance your home, you and your family can count on some savings between now and next Mother’s Day!