According to www.bankrate.com, 30 year fix interest rate had gone up to as high as 5.51% on average in the bay area for the last few weeks. As of June 26, 2009, 30 year fixed rate is still around the neighborhood. The consensus is that interest rate would probably keep going up since there is so much federal government borrowing: the more borrowing, the higher interest rate.

On the other hand, at Pacificwide Lending, we like pass on savings to our customers: our rate of 30 year fixed program can be obtained at 5.125%( APR=5.375). If you are looking to refinance, this is a great time. Waiting does not do you any good.

No equity on your property? We may be able to help. We can refinance up to 105% of your property value on your first loan, even you still have a second loan behind it. Give us a call to find out.