Fixed Rate Mortgage Loans Increasing as Consumers Refinance According to First Guarantee Mortgage

(PRLEAP.COM) (Winter Park, Florida) 30 year fixed rate mortgages and 15 year fixed rate mortgage loans have increased in popularity with consumers as they face increased monthly mortgage payments with adjustable rate home loans.

Many consumers are starting to “Dis-ARM”, a banking term defined as switching or refinancing from an adjustable rate to a fixed rate.

Consumers typically use an online mortgage application to start the refinance process.

Fixed rate mortgages provide a fixed interest rate for the complete loan term. This allows consumers to better plan their budgets, as their monthly mortgage payments will remain the same each month.

This is in contrast to an adjustable rate mortgage in which their interest rate is tied to a benchmark or reference rate determined by banks. As this rate moves up or down their monthly mortgage payment is adjusted accordingly.

Lately these rates have been on an upward curve as the Fed has continually raised rates to cool the economy and keep inflation in check. This has increased pressure on consumers with adjustable rate mortgages to consider refinancing to a fixed rate mortgage loan and gain stable monthly payments and peace of mind.

“We have noticed a spike in consumers switching from an adjustable rate mortgage to a fixed rate mortgage. Consumers are generally savvy when it comes to saving money and as they notice interest rates rising they move fast to refinance”
David Regan White – Director of Marketing

First Guarantee Mortgage has relationships with hundreds of lenders and can research hundreds of fixed rate loan programs to quickly find the best fixed rate loan thus saving time and money for the new home purchase consumer or the home mortgage refinance consumer looking to refinance to a fixed rate mortgage loan.

Highly trained loan specialists and customer service representatives will work with each customer on an individual basis and stay by their side from loan application to home loan closing providing research and expert advise to make their fixed rate loan process fast and easy.

First Guarantee Mortgage is a Home Mortgage Refinance Expert and professional multi-state mortgage broker that provides a one-stop shop for consumers looking to refinance or make a new home purchase. FGM has over 550 highly trained loan specialists ready to research hundreds of lenders and home loan programs to find the right home loan solution to fit each consumer’s individual financial needs.


Contact:
David Regan White
Director of Marketing
First Guarantee Mortgage
Winter Park, Florida 32791
(518) 587-2500 x4136
dwhite@fgmnet.com

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