Mortgage Rates Heading Into The Weekend:
It's been a great week for Mortgage rates! They are under pressure today after a stronger than expected Employment and ISM Manufacturing reports however they do remain near recent lows. Fixed rate mortgage loan programs remain a bit more attractive than adjustable rate mortgages.
First Time Homebuyers:
If you're a first time home buyer looking to purchase a home in February 2019 - congratulations; your timing is great! Why? Mortgage rates are near their one year low and in many markets it's transitioned from a sellers to a buyers market. Here are some suggestions to help with your search:
- Work with a Realtor - super important
- Be realistic and don't over extend yourself
- Ask questions - lots of them
- Work with a reputable mortgage company/loan officer
Is Now A Good Time To Refinance:
The quick and easy answer is; it depends. Here are some reasons a homeowner should consider a refinance of their current mortgage:
- Your current 30 year fixed rate mortgage is above 4.50%
- Your current 15 year fixed rate mortgage is above 4.00%
- You'd like to do some renovations to improve the value of your home
- An expected expense has come up
- You want to switch from a 30 year fixed to a 20 or even 15 year fixed rate mortgage
- You have an FHA mortgage currently and want to get rid of the Mortgage Insurance (MI) payment
One of the most important things about doing a refinance is this: make sure it makes sense and as a result of the refinance you'll be in a better financial position then you were before.
JB Mortgage Capital, Inc:
If you are looking to purchase a home or refinance a current mortgage please be sure to contact Loan Officer Kevin O'Connor for a no-cost/no-obligation quote.
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