Consider this your warning: Mortgage rates are the highest they've been in six months. If you missed the boat waiting for "4.00% rates", you may want to consider doing something with your 6.00%, 300k mortgage if rates drop back to below 5.5%.
The aforementioned article from the associated press is further evidence that the media is always a step behind the mortgage industry. Rates have been hovering just below 6.00% for nearly 2 weeks! Also, be aware that the 5.59% rate referenced in the AP article does not include points and closing costs.
I am using this opportunity to point out that you need to be ready if the opportunity to take advantage of lower rates presents itself. The window may not be open for long. More to come on the violent fluctuations in rates! Make it a great day!
Subscribe to:
Post Comments (Atom)
Posts
0 tip comments:
Post a Comment