With the interest rates we've been experiencing for the past year or so, it may seem like there is no end in sight to historically low rates.
Freddie Mac's recent Primary Mortgage Market Survey, which provides a snapshot of U.S. average mortgage rates, reported a national average rate of 4.56 per cent with 0.7 points on a 30-year fixed-rate mortgage. At the same time last year, the rate was 5.2 per cent with 0.7 points. So once again, you might be asking yourself, is it time to refinance?
Assuming you can qualify to refinance your mortgage, here are some things to consider.
Your Overall Financial Picture
Refinancing can be a great way to save money. It can also be a great way to get yourself into financial trouble. You shouldn't refinance if you suspect you will make a refinancing choice that will hurt your financial situation in the long term.
People are a little hesitant to refinance, however, it is the right thing to do. Some are expecting lower rates in the future, but this is impossible.
Millions of Americans realized that this is the best time in history to refinance and therefore, mortgage leads are becoming increasingly popular. In fact, a recent poll was taken by lead generation companies. 90% said right now the supply AND demand for buy mortgage leads is skyrocketing.
Looks like the housing market is looking up....NOT. Housing prices are not recovering. This is horrible. Properties were once one of the best ways to get rich in America but this is not true anymore. According to a lot of articles that are coming out this week, the house is not your biggest asset anymore. You can be better off renting, at least you will be recession proof, or at least your net worth will not take a serious hit if your value of your property takes a hit. Mortgages are crazy these days.
Which means..Mortgage Leads Are In Season
by: Connor B
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