Timing is everything in the real estate market. Mortgage rates are near a low in 2010 and NOW is a great time to inquire about a possible refinance. The federal government’s mortgage backed securities purchase program ended on March 31st, but since then we have seen private and foreign investors move into the US bond market as “safe haven” buying takes place. With so much turmoil in the eurozone countries such as Greece and Germany are moving investments into a “safer” place (i.e. US bond market). As the bond market benefits, you as a homeowner or potential homeowner can also benefit from the result of lower mortgage rates.
By now I’m sure you have heard rates have been low and may have even heard they have began to take a turn to rise. Watching mortgage rates on a daily basis can be like riding the California Screamin’ roller coaster at Disneyland. The volatility makes it even more important for you to have a trusted and educated resource in the mortgage world. Currently we are in the sub-5% range on a 30 year fixed conforming or FHA loan. If you have a mortgage in the 5.5%-6% range, it may be worth your time to give me a call (503.585.1105) or shoot me an email to talk about a potential refinance opportunity.
If you did not take advantage of the extremely low rates in 2009 or did not have the ability to, now may be your chance. The rates change daily (and sometimes 3-4 times a day), so please take the 4-5 minutes it takes to call me and go over your potential opportunity before we see the rates fade away.