Window of Opportunity May Be Closing – Sooner Than You Think

I wanted to reach out to you before it's too late. Many people have heard that home loan rates reached record lows in October, 30 year rates were in the super low 4's, 15 year rates were bewteen 3.375 & 3.625%, all depending on the LTV and the borrowers credit score.  Due to the frenzy and buzz of the low rates, I've been busier the past few months with emails and phone calls from clients wanting to take action compared to the rest of the year prior to this fall who wanted to take advantage of this wonderful lending envirnment.

But – and this is an important but – it is more important than ever to act now.

Over the last week, rates have started rising again due to a combination of good economic news and the Fed's latest Treasury Security purchasing plan. In fact, over the last week rates have risen 0.5% from where rates were in October! That's right – 0.5%!  For two days they dropped back down .25% to make it a .25% rise and yesterday rates increased again .25% to go back up to the .5% higher than October.

While some people say good things come to those who wait, others say to strike while the iron is hot and make hay while the sun is shinging. In this case, the "iron is still hot" and the sun is shinging with rates still under 5% at exceptionally low levels, but it's starting to turn, and quickly. And we will quite likely never see home loan rates this low again.

It will only take a minute – give me a quick call so we can look at your situation. Doesn't cost anything to check it out, and the choice of moving forward will be up to you. But don't miss this closing window of opportunity to save significantly on your monthly budget. What better gift to give yourself...and just in time for the holidays!

Case in point, a family that has a $220,000 mortgage that is currently paying 5.875% on a 30 year and their new loan is 4.375% for a 20 year mortgage, they will save approximately $90,000 in interest and they payments are going to stay about the same or within $10 to $20 of the year mortgage.

That's a savings that you cannot wait till next summer or some time in the future and expect to get the savings over time.  Why?  Two reasons.  One, the markets move and are not going to wait on anyone to be ready.  If rates creep up to over 5%, they may not go down to the super low 4's for years.  Two, Time is on your side or not on your side, pending on acting or not acting.

I look forward to hearing and working from you!  If you happen to be reading this article and you will not benefit from refinancing at all, surely you know a few people in your sphere of influence that can benefit from restructuring their mortgage and finances.