Average Mortgage Rates for a 30 year loan dropped to 4.36%, down from 4.42% a week ago. More significantly, rates are down from 5.14% a year ago. If you have not refinanced recently, now is the time to consider speaking with us to help you save some money and lock in these historically low rates. We have noticed an increase in refinance applications in the past few weeks as more and more people are realizing that refinancing now can save them money. Nationally, applications to refinance rose last week by 5.7% following a huge 17.1% increase in the previous week. By way of comparison, purchase applications rose by 0.6% last week. Refinance applications made up an overwhelming 82% of all applications submitted.
If you have not refinanced your home in the past year and a half and plan to stay in your home for at least 3 years, then you should really take a moment to find out how much money you could save. For those who intend to stay in the homes for many years, the amount you could save over the life of your loan is substantial. Email us today at firstname.lastname@example.org to find out if now is the right time for you to refinance.
If you have already refinanced or do not plan to stay in your home for much longer, you can still be a hero to someone else. If you have family, friends, or colleagues who could use a break in their finances, suggest to them that refinancing could help save them money. Now is the time to act and everyone who qualifies should highly consider refinancing today.