Should You Refinance Your Mortgage?

Real Estate Broker/Owner with True Sarasota Real Estate

As a Sarasota real estate agent and a mortgage broker, I have seen people learn the pitfalls of refinancing when it is clearly not in their best interest. Many things should be considered like what kind of mortgage you currently have, how long is left in the term, and what is the rate? Another consideration is the cost of refinancing. For the best results, be sure to seek the advice of a qualified, licensed mortgage broker or Sarasota buyer agent.

Original content by Michael LaFido

Should You Refinance Your Mortgage?

Because of strife in Greece, Spain and North Korea, conforming mortgage rates are back to all-time lows. They're at levels not seen in 50 years.  For homeowners that missed the Refi Boom of November 2009, it's a second chance.

In this well-presented, 3-minute video from NBC's The Today Show, you'll get tips getting low rates and choosing the best time to lock in.

Some of the topics covered include:

  • Why were the experts wrong about rates moving higher this summer?
  • How much money can you save with a 1 point drop in your interest rate?
  • Should you buy a bigger home now that rates have fallen?

The advice in the piece is matter-of-fact and centered.  There is no cheerleading and the message is honest. Mortgage rates are low and they likely won't stay that way.  If you've been thinking about a refinance, talk to your loan officer as soon as possible.

Posted by Michael LaFido on May 27, 2010 | Tags: Mortgage Rates

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