Category: News

If you haven’t heard interest rates are still near record lows. So if you have a mortgage and haven't refinanced in the last year, there’s a good chance you can refinance into a lower rate (generally a good idea :) and may consider getting cash out, so here are five things to consider. First we will start with the pros…. Low Rates and Lower Rates. As we said rates are low now – like really low. And if you’re considering a HELOC or home equity line of credit, rates on a mortgage refi are often lower. So you can lock in a low rate and have lower payments – sounds good right? Debt Consolidation If you have a lot of high interest debt (i.e. credit cards), you can pay that…

We all know the housing market has been on a tear and some people take might want to take a pause, but here are five reasons why it’s a good time to buy! 1. Increases in inventory – one of the reasons housing prices have been surging is a lack of inventory but we are seeing increased inventory nationally over the summer according to national association of Realtors. 2. Price increases maybe moderating – forecasts expect prices to continue to go up but at a more moderate level. 3. Rates are expected to stay low – forecasts for rates to stay low through the end of the year and perhaps into next year 4. Rates are near record lows – we are still at record low interest rates so borrowing…

Should you refinance for less than half a percent difference on your current loan? You’ve probably heard that interest rate are at record lows and if you’re current rate is one percent higher than today’s rates then we would usually say refinancing is a no-brainer. But what if you already have a low rate and its less than half a percentage point less than your current rate, should you refinance then? There are a few key factors to consider. 1. Do have an Adjust Rate (ARM) Mortgage? Getting into a lower fixed rate mortgage can definitely make sense in this case as you’ll lock in a lower rate, as the ARM rate may rise in the future. 2. Do you have a high loan balance? If your loan balance is…