Napa Valley Address

Napa Valley Real Estate | Yountville Real Estate

  • Home
  • Blog
  • Listings
  • About
  • Contact
  • Home
  • About
  • Search ►
  • Yountville
  • Oakville
  • Napa
  • St. Helena
  • Rutherford
  • Calistoga
  • Angwin
  • Pope Valley
You are here: Home / Home Buying / Take out a home loan for less than 30 years and save big bucks

Take out a home loan for less than 30 years and save big bucks

December 17, 2013 by Curtis Van Carter Leave a Comment

The headline below sure caught my eye when reading the newsletter I get from the  CALIFORNIA ASSOCIATION OF REALTORS® called C. A. R. Newsline. Freddie Mac has released the results of its third quarter 2013 quarterly refinance analysis, showing that borrowers are continuing to take advantage of near-record-low mortgage rates to lower their monthly payments, shorten their loan terms, and overwhelmingly choose the safety of long-term, fixed-rate mortgages.

Highlights from the report include:

  • Of borrowers who refinanced during the third quarter of 2013, 37 percent shortened their loan term, up 5 percent from the previous quarter and the highest since 1992. Borrowers who kept the same term as the loan that they had paid off represented 59 percent, and only 4 percent chose to lengthen their loan term.
  • The net dollars of home equity converted to cash as part of a refinance remained low compared with historical volumes. In the third quarter, an estimated $6.4 billion in net home equity was cashed out during a refinance of conventional prime-credit home mortgages. The peak in cash-out refinance volume was $84 billion during the second quarter of 2006. Adjusted for inflation, annual cash-out volumes during 2010 through 2013 have been the smallest since 1997.
  • The average interest rate reduction was about 1.8 percentage points – a savings of approximately 30 percent. For all borrowers who refinanced during the third quarter, the estimated interest savings over the next 12 months will be about $6 billion.
  • About 85 percent of those who refinanced their first-lien home mortgage maintained roughly the same loan amount or lowered their principal balance by paying in additional money at the closing table. That’s just shy of the 88 percent peak during the second quarter of 2012.
  • More than 95 percent of refinancing borrowers chose a fixed-rate loan. Fixed-rate loans were preferred regardless of what the original loan product had been.

Let me put my nearly 30 years experience to work for you and help you get the perfect Napa Valley property

 

Share this:

  • Tweet

Related

Filed Under: Home Buying, Mortgage Info, RE Current Info Tagged With: Mortgage Info, RE Current Info

Curtis Van Carter, has been one of Napa Valley Real Estate's most knowledgeable and experienced agents. He has been characterized by his clients for his honesty and knowledge to make a home sale or purchase as smooth as possible. If you are interested in selling or listing a home please call or EMAIL Curtis here.

Leave a Reply Cancel reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Napa Valley Real Estate Search

Area Info

  • ,
  • Calistoga, Ca
  • Napa, CA
  • Oakville, CA
  • Rutherford, CA
  • St. Helena, CA
  • Yountville, CA

Latest Yountville Real Estate

  • $719,000 162 Vineyard Circle
    Yountville, CA
  • $684,000 6600 Yount Street #10
    Yountville, CA
  • $2,739,000 6526 Vista Drive
    Yountville, CA
  • $2,049,000 1906 Oak Circle
    Yountville, CA
162 Vineyard Circle
Yountville, CA
Photo of 162 Vineyard Circle, Yountville, CA 94599 (MLS # 22003164)
$719,000
Lot Size
1,120 sqft

Home Size
1,154 sqft

Beds
2 Beds

Baths
2 Baths

6600 Yount Street #10
Yountville, CA
Photo of 6600 Yount Street #10, Yountville, CA 94599 (MLS # 22011991)
$684,000
Lot Size
410 sqft

Home Size
1,054 sqft

Beds
2 Beds

Baths
1 Bath

6526 Vista Drive
Yountville, CA
Photo of 6526 Vista Drive, Yountville, CA 94599 (MLS # 22028117)
$2,739,000
Lot Size
7,610 sqft

Home Size
3,100 sqft

Beds
4 Beds

Baths
3 Baths

1906 Oak Circle
Yountville, CA
Photo of 1906 Oak Circle, Yountville, CA 94599 (MLS # 321007320)
$2,049,000
Lot Size
6,116 sqft

Home Size
1,667 sqft

Beds
3 Beds

Baths
2 Baths

  • 162 Vineyard Circle
    Yountville, CA
    Photo of 162 Vineyard Circle, Yountville, CA 94599 (MLS # 22003164)
    $719,000
    Lot Size
    1,120 sqft

    Home Size
    1,154 sqft

    Beds
    2 Beds

    Baths
    2 Baths

  • 6600 Yount Street #10
    Yountville, CA
    Photo of 6600 Yount Street #10, Yountville, CA 94599 (MLS # 22011991)
    $684,000
    Lot Size
    410 sqft

    Home Size
    1,054 sqft

    Beds
    2 Beds

    Baths
    1 Bath

  • 6526 Vista Drive
    Yountville, CA
    Photo of 6526 Vista Drive, Yountville, CA 94599 (MLS # 22028117)
    $2,739,000
    Lot Size
    7,610 sqft

    Home Size
    3,100 sqft

    Beds
    4 Beds

    Baths
    3 Baths

  • 1906 Oak Circle
    Yountville, CA
    Photo of 1906 Oak Circle, Yountville, CA 94599 (MLS # 321007320)
    $2,049,000
    Lot Size
    6,116 sqft

    Home Size
    1,667 sqft

    Beds
    3 Beds

    Baths
    2 Baths

Previous Next
 

Napa Valley Info & Links

  • Napa Valley Sold 10/1/20to 12/31/20
  • Napa Valley Photos on Flirkr
  • Napa Valley Videos
  • Yountville Sun Front Pages
  • Yountville A Personal Perspective
  • Detail Neighborhood Info About Yountville
  • Detail Neighborhood Info About St. Helena
  • Detail Neighborhood Info About Calistoga
  • Detail Neighborhood Info About Napa
  • Detail Neighborhood Info About Angwin
  • Detail Neighborhood Info About Oakville

Categories

About…… Curtis Van Carter

Curtis is one of Napa Valley's most experienced and trusted real estate agents.

Follow Curtis

  • Facebook
  • Google+
  • LinkedIn
  • Pinterest
  • RSS
  • Twitter
  • YouTube

Recent Posts

  • Yountville, Napa Valley, Weekly Real Estate Update February 26, 2021
  • St Helena, Napa Valley Weekly Real Estate Update February 24, 2021
  • Calistoga, Napa Valley, Weekly Real Estate Update February 23, 2021
  • Yountville, Napa Valley, Weekly Real Estate Update February 19, 2021
  • St Helena, Napa Valley Weekly Real Estate Update February 17, 2021

Napa Valley Info & Events

  • Napa Valley Sunday Open Houses
  • Napa Valley Sold 10/1/20 to 12/31/20
  • Upcoming Napa Valley Events
  • Useful Napa Valley Links
  • Napa Valley Photos on Flirkr
  • Napa Valley Videos
  • Yountville Sun Front Pages
  • Yountville A Personal Perspective

Our Services

  • Short Sales
  • Foreclosures
  • Home Listing
  • Buyer's Broker

Contact

Better Homes & Gardens
Wine Country Group
707.944.0421 office
707.815.8584 cell
DRE # 00770113
  • Home
  • Blog
  • About
  • Listings
  • Contact

© 2021 · Napa Valley Address · Built by Varick Design