Q: Is Now a Good Time to Refinance?
It’s a fantastic time to refinance if you’re a homebuyer. Here are a few reasons why.
I’m back once again with my friend John Broskie of Waterstone Mortgage to discuss another important topic. Today we’re focusing on refinancing.
Most refinances are done with one of the following goals in mind: debt consolidation, mortgage insurance elimination, or home renovation. Rates are so low right now that those who choose to refinance are saving money every single month. Keep in mind that you need at least 10% equity in your home to refinance.
Over the last 50 years, the average mortgage interest rate has been around 8.5%. Right now, rates are in the 3% range, making homes as affordable as ever. If you want to learn more about your refinance options, give John a call at 407-493- 3868.
If you have any other real estate-related questions for me, don’t hesitate to reach out via phone or email today. I would love to hear from you.