The one thing you need to know is that rates could go lower. While that may be hard to believe there are some economic forecasters who are predicting a recession within the next 2-3 years which could mean even lower rates than the ones we have now. What could this mean for your mortgage plan? Does it make sense to invest in buying down your rate now if you end up refinancing that mortgage in a couple years to get a lower rate? How about considering an Adjustable Rate Mortgage that could give you the lowest rates available now and benefit you down the road when interest rates drop again.
What can you do to ensure you are in the best position possible to make the best decision? A free annual mortgage review is great start. This free service will take a look at where you are now and compare it to the market so you can clearly see if making a move now is the best action to take or if your current rate is better than the market. To find out click here.
By David Hughson
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