Mortgage rates in the U.S. has jumped to a record two-year high,
The average U.S. rates for fixed mortgages rose in the last week of August to their highest levels in two years. What message the rise carries to home buyers and mortgage professionals?
It is assumed that rates aren’t going to get much better any time soon
Buying sooner rather than later actually makes sense.
Rising mortgage rates have had the biggest effect on refinancing
There is no reason to be overly concerned about the rise in rates as long as the 30-year average stays below 6 percent.
Layoffs are accelerating because of improving loan performance and slowing refinance activity.
The rates are still historically low rates and home sales are ahead of previous years.
And those homeowners who haven’t refinanced already are kicking themselves for missing an opportunity to lower their monthly payments. Andrew Martinez, the co-founder of Loan City Home Loans says to these homeowners " you have not missed the boat yet"
What you should do in this situation when mortgage rates are rising.
Refinance Now Because
Mortgage rates are rising -Current mortgage rates are still extremely low- so it is time and you should act now.
A few banks reported having eased their credit standards for mortgage loans
Mortgage lenders and Mortgage insurance companies are loosening up a little
If you refinance now, you have more home equity
Use a refinance calculator to estimate the cost and benefits of refinancing in the context of your financial plan.
The average U.S. rates for fixed mortgages rose in the last week of August to their highest levels in two years. What message the rise carries to home buyers and mortgage professionals?
 |
| Where mortgage rates are going? |
It is assumed that rates aren’t going to get much better any time soon
Buying sooner rather than later actually makes sense.
Rising mortgage rates have had the biggest effect on refinancing
There is no reason to be overly concerned about the rise in rates as long as the 30-year average stays below 6 percent.
Layoffs are accelerating because of improving loan performance and slowing refinance activity.
The rates are still historically low rates and home sales are ahead of previous years.
And those homeowners who haven’t refinanced already are kicking themselves for missing an opportunity to lower their monthly payments. Andrew Martinez, the co-founder of Loan City Home Loans says to these homeowners " you have not missed the boat yet"
What you should do in this situation when mortgage rates are rising.
Refinance Now Because
Mortgage rates are rising -Current mortgage rates are still extremely low- so it is time and you should act now.
A few banks reported having eased their credit standards for mortgage loans
Mortgage lenders and Mortgage insurance companies are loosening up a little
If you refinance now, you have more home equity
Use a refinance calculator to estimate the cost and benefits of refinancing in the context of your financial plan.
No comments:
Post a Comment