INTEREST RATES ARE AT AN ALL TIME LOW.
Let’s talk about rates! I know that is what you want to know about. I have talk to quite a few of you and many of you have saved quite a bit. I do not know how long this “Low Rate” environment will last. As I have told many of you, I don’t trust it much longer. I have many people asking me all the time, what is your best rate on a 30 year or 15 year. It depends!! Over the last year, Fannie Mae and Freddie Mae have added so many adjustments to the rates that it can vary from per person to another. There are adjustments for credit scores, cash out, waiving escrows, combined loan to value, loan size, etc. So if someone says they got a certain rate, that doesn’t tell you much because you don’t know the cost they paid or their personal situation. To keep it simple, I will put together a comparison for you and your friends and explain the options and adjustments to you. Even if you don’t think you can save much or are worried about the costs, call or email me and I will put together a comparison for you to see if it would make sense. Please tell your friends, neighbors, and co-workers that I will do the same for them.
I think I will just wait a while longer, not sure if I want to do this now.
How much lower can we go? With the problems regarding Greece’s debt and other European countries debt, we have seen an influx of people buying mortgage backed securities. This increased buying has lowered rates along with the concerned and uncertainly in our own economy. If inflation starts to creep in and when the economy show any sign of recovery, experts are predicting that interest rates will go up. Many of you have low rates now and if they go up much it will no longer make sense. It may be many years before we see rates as low as they are today.
I don’t want to have the mortgage back on a 30 or 15 year term again.
We can always look to putting the mortgage on a 25, 20, 15 or 10 year fixed rate mortgage and in many cases, still lower the mortgage payment. You will be provided a mortgage analysis which gives some options on payments and terms. The mortgage analysis also shows you how much time and monthly can be saved with the refinance compared to staying with your existing mortgage. If there is not benefit, that will be evident as well.
Call me at 920-960-0852 or 262-696-5041 or email at krissteinbach@inlanta.com
