Mortgage rates have dropped significantly in the past few months, and especially this week. You should immediately see if refinancing your mortgage makes sense.
Mortgage rates are closely tied to the 10 year US Treasury note yield, which has declined from 2.27% on December 1, 2015 to around 1.6% over the past few days. This is a 3 year low. Mortgage rates have dropped as well. For 30 year mortgages, rates are now well below 4%, even in the 3.7% range, depending on the amount you want to borrow, points (if any, that you want to pay) and other factors.
Who do you know who…….has a mortgage with an interest rate above 4%, or even above 4.5%? If so, this could be a great opportunity to refinance their existing mortgage and save money every month.
Does this apply to you? Does this apply to your children or grandchildren? To a frient, co-worker or other relative? You can do yourself and others close to you a great favor by promptly acting on this information. Make a phone call or send an e-mail. Forward them this blog post.
Interest rate are very volatile. If you think this applies to you, we encourage you to act promptly. While rates may remain at these levels, or even go lower, they are unpredictable and could change directions quickly.
We feel it is our obligation to provide you with this information, as part of the comprehensive financial
planning services that we provide. One of the reasons we write this weekly blog is to point out or explain significant financial matters in a very timely manner.
If you think you may benefit from refinancing, you should contact a mortgage lender, your bank or our firm. We are not in the mortgage business, but we can assist you in analyzing this type of financial decision.
We want to assist you, your family and friends, so each of you can make the best financial decisions possible. So who do you know who can benefit from this type of information?