Last day for 30 year amortization and refinancing up to 85%

As everyone is already aware, the maximum amortization available will be dropping from 30 years to 25 years and the maximum refinance will drop from 85% of your homes value to 80%.  Although these changes don't become firm until this Monday, July 9th, the last day mortgage applications will be accepted will be by the end of day tomorrow, Friday July 6th.  Some lenders have already stopped accepting applications and have already fully implemented the new rules early, which was expected.

If you are looking at refinancing up to 85% and/or looking for an amortization of 30 years, make sure you don't delay any further in getting your mortgage applications submitted.   3 year fixed mortgage rates are currently as low as 2.69% and 5 year fixed as low as 2.94%.