Indianapolis Mortgage Refinance Rates at All Time Low

Indianapolis Mortgage Refinance Rates are Lowest I’ve Ever Seen

Indianapolis mortgage refinance rates are at the lowest I have ever seen since I became a Loan Officer in 1999. Now is an excellent time to refinance across the board – all types of Indianapolis mortgages are at historically low rates right now.

You read that correctly! Right now the mortgage rates in Indianapolis are the lowest I have seen since I became a Loan Officer in 1999! Suffice it to say, now would be a great time to refinance.

Indianapolis Mortgage Refinance Rates for Today

As for today’s Indianapolis mortgage refinance rates, we’re kind of in that yo-yo stage where it goes down a little, then it goes up a little. ThIndianapolis Mortgage Refinance Rates at All Time Lowen it goes down a little bit more, then it goes up a little.

And I think it will continue to go down. I’ve seen this a lot where it looks like the rates want to go lower, but the market condition just moves in the wrong direction. The Supply:Demand ratio is skewed in such a way that it’s working against us.

The demand is so great right now that companies are being taxed with the burden of keeping up with all the new loans coming in. So they are not really lowering their rates to where they should be.

Jim DeCamp’s Take


I’m advising my clients to just give it a little time and when everyone gets all caught up processing loans we’ll start to see the rates lowering more quickly than they are now. I’ve seen this a lot, where they lower rates and that ‘turns on’ their pipeline of new loans. And then they have to turn it back off, so to speak, by raising rates again because they’ve got too many new loans in the pipeline.

Jim DeCamp Indianapolis MortgageSo I think we’re going to continue to go lower, at least until November. But with the election pending, I would be afraid to predict much after that. And I think we’re going to stay about the overall rate we’re at – we might even get down to 3.25% on a 30-Year Fixed. Today’s Indianapolis mortgage rates for a 30-Year Fixed are 3.375%.

And I feel it bears repeating… these are the lowest rates I’ve seen it in my entire career as a loan officer!

Save Big on Small Percentages

That’s why now would be a great time to refinance any type of home loan that you have. Even saving just 1% on your loan is HUGE. I know saving 1% on your mortgage rate doesn’t sound like much but over time it equals thousands of dollars that you will save by refinancing at the low interest rates we’re seeing right now.

I’ve talked with a lot of my clients who, last year, were at 4.25 percent. And now we’re almost ¾ of a percent lower than that, so we’re refinancing and saving them lots of money.

By industry standards, myself and everyone on my team all feel like this is HUGE! The current market conditions are great for mortgage rates.

How do you know if you should refinance or not? That’s the topic of my next blog post!

Until then, have a great day!