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3-yr low interest rates - Refinancing

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3-yr low interest rates - Refinancing

Exceptional rates out there. Anyone thinking of refinancing or in the process of?

If so, what are some things to look out for?

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4 REPLIES 4
Established Contributor

Re: 3-yr low interest rates - Refinancing

Compare APRs if you shop around but learn enough about the process and know enough about your own situation to figure out what's best for you....then, take advantage of the opportunity and don't panic.

 

 

 

 

__________________________________________________

Licensed NC Mortgage Loan Originator
Message 2 of 5
Established Contributor

Re: 3-yr low interest rates - Refinancing

The market is pretty volatile and can change from day to day.  As an example, I priced out a loan for one of my clients on Tuesday at 3.25% and by Thursday the market had deteriorated and it when to 3.375%. Many of us LO's have tools to best determine when to lock a loan or float, but in the end timing is everything.

 

The word on the street is the FED may consider cutting the rate again next month. I have several refi's going and most people want to lock now and not wait, while a few are waiting out the market.  Do your research but don't let the parade pass you by.

 

NOTE: In my humble opinion, we should be seeing lower rates as the fears of an overdue recession loom out there. 

Mortgage Banker - Since 1988 offering FHA, VA, USDA, Conventional, Jumbo and Portfolio Loan Products. Licensed in AL, AZ, CA, FL, GA, IL, IA, IN, KY, LA, MI, MO, NC, NE, NV, NJ, OH, OK, OR, PA, SC, TN, TX, VA and WI.
Message 3 of 5
Frequent Contributor

Re: 3-yr low interest rates - Refinancing

Good stuff! Thanks guys. I've been monitoring the rates everyday in hope of striking the hammer when then time is right.

Amex BCE | Discover | Chase Freedom | Citibank DC | SYNCB | Barclay Rewards | BoA Cash Rewards | CapOne QS | Chase CSR | Chase FU | Amex Ascend | 2019 Goal: Gotta make it to 200k |
Message 4 of 5
Valued Contributor

Re: 3-yr low interest rates - Refinancing

Don’t be greedy, if you are wanting to Refi get your application in now. By the time the rates go lower (if they do) every lender will be too busy to get you in. Do it now, rates are unbelievable and lock that rate ASAP. Don’t look back and don’t second guess it.
Message 5 of 5
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