MORTGAGE CORNER
Rates went up, did you miss out?
The bad news: Yes, it's true... mortgage rates have gone up.
The good news: I can still help you get a low rate!
After watching mortgage rates hold steady or even get lower week-after-week, it's hard to believe that they can actually go up. But that is exactly what happened last week.
How come rates went up?
Well, average mortgage rates among lenders ended the week much higher after an unexpected fee was added to all conventional refinances by the Federal Housing Finance Agency. The fee caused rates to increase across the board, even to purchase mortgages, as lenders suddenly found themselves on the hook to pay this new fee on most refinances that were set to close this month and beyond.
Will rates come back down?
That's a question no one has the answer to, but there is a good chance we may indeed see them improve over the next few weeks. But even if we do, the window to take advantage of getting these low rates may be short. That's why it is important for you to contact me NOW so we can have your application ready to take advantage of any improvements.
Reach out anytime it is convenient for you, and let's discuss how I can get you a low rate when rates improve again, and I can look at your situation and help you be ready to move quickly when the time comes.
