Here’s what’s happening with interest rates and why you should act soon.
What’s happening with interest rates? That seems to be the hot topic of conversation everywhere I go these days. Rates did increase recently; they’re no longer in the low twos, but they’re still in the high twos and low threes, which are still excellent rates! If you’ve been on the fence about refinancing or buying a home, now is the time to do so.
Rates will only rise from here, but you haven’t missed the boat yet. If you have debt, it may help to pay some of it off first. If you have an interest rate in the 4% range, you can still refinance to a lower rate. If you bought a house or refinanced with a VA loan and your rate is 3.8% or higher, do something about it. If you already received an interest rate from another lender, reach out to us so we can help you compare that to other options.
Now that the pandemic is beginning to ease, the economy is recovering, which will cause inflation. Talk to your lender or reach out to us for a strategy call to see if it makes sense for you to refinance.
Shoot me a text or give me a call to see if refinancing is a smart move for you or if you have any questions. I would love to help with all your mortgage needs.