Is the mortgage-refinancing opportunity of a lifetime slipping away? I suspect the answer is “yes”—and it isn’t because I can forecast interest rates. Rather, the Federal Reserve has announced it’s cutting back on its bond purchases, and that will likely mean higher interest rates—including rates on new mortgages.
The MarketWatch article once again confirms projections that mortgage rates will rise from here, and may not return to these levels for an extended period of time.
Many Americans Have Not Refinanced
Earlier this year, Li-Ning Huang, Senior Manager of Fannie Mae’s Business Strategy Economic & Strategic Research reported that 40-50% of Borrowers Have Not Refinanced.
The fact that many Americans have not refinanced, and mortgage rates remain at historic low level, tells us it’s not too late to take advantage of what could be an opportunity of a lifetime.
But as most good things come to an end, so will the opportunity to purchase a home or refinance at these mortgage rates.
You Can Refinance Later, But Expect Higher Interest Rates
Mortgage rates are projected to increase over the next couple of years, as the housing market continues to recover. We may not see these low mortgage rates again, at least for a very long time.
If you are thinking about purchasing a home or refinancing, today’s mortgage rates could present an opportunity of a lifetime. The good news is that it can be very easy to take advantage of this historic low rates, and save money every month on your mortgage payment.
It’s Easy to Take Advantage of Historic Low Mortgage Rates
As a top-rated Mortgage Broker, Marimark Mortgage works very hard to simplify the mortgage process.
Ryan Schulze, a Broker Associate with Keller Williams, recently wrote this about the work we did for one of his real estate clients:
I want you to know that VERY FEW people impress me in this business. Most are filled with lazy, rude, part timers that I constantly have to chase around. I am sure you know EXACTLY what I mean.
Please tell Mary that you guys have done an OUTSTANDING job. I am truly impressed. I close about 125 deals a year for about 16 to 17 million so I deal with A LOT of lenders and you are in the top 2.
Thank you for an outstanding job.
If you are thinking about purchasing a home or refinancing, please consider giving us an opportunity to win your business. We would consider it an honor to help you reach your goals, and live in the home of your dreams.