Good Morning,
If you are one of those people who missed the opportunity to remortgage your loan back in January and February, you will be glad to hear that your chance is back. We can thank the government for stepping in and bailing out the mortgage giants, Fannie Mae and Freddie Mac. Remortgaging rates decrease by over .75% in many programs including 30-year fixed mortgages. However, as the old saying goes, easy come easy go. We initially saw a huge drop and this mornings trading started hinting at mortgage interest rate increases again. Time is of the essence when a decrease like this happens.
I have been getting numerous calls and e-mails from a variety of people whose mortgages are very close to adjusting or they need to cash out some of their equity to finish home improvements or to pay for their kid’s college tuition. There is no better time to utilize the equity in your home to do this.
It is also the time to make your offers for home purchases! Prices and rates are at their lowest levels. Can anyone remember a time when home prices were dropping and at the same time rates were plummeting as well?
Please read our tip about the best way to lock in a program
We will have another update in the afternoon to let you know where the market is heading in the short term and long term.
Our goal is to help you maximize the opportunities that come and go very quickly, so if you have any questions or are looking for some help finding a program, you can send me a chat request by clicking here, and I will respond to you immediately!
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