How can homeowners know if this is a good time to refinance?
How can homeowners know if this is a good time to refinance? I have been asked this question so many times in the past few months. My answer remains the same.
Home owners need to look at the facts. Interest Rates are at a 50 year all time low. The Fed has been artificially keeping rates low to entice and invigorate the Real Estate Buying process. This will not be here forever; hence it is a good time to refinance. The only ones who should not refinance are home owners who are considering selling in the near term. The home owners should also check see what the closing costs will add to the total costs and factor that in as well before refinancing.
Given how the stock market is declining and there is all the uncertainty about the economy this is an ideal time to lock in those low rates for a fixed term. What is your expectation? Do you think interest rates will rise?
How would you have answered this question?
If you are a consumer who is considering buying or selling a home, investment real estate, vacation homes, or beach properties in Southern California, Los Angeles, Century City, Westwood, West Hollywood, Beverly Hills, Culver City, Marina Del Rey, Venice or Malibu, please feel free to give me a call at 310.486.1002, email me at firstname.lastname@example.org or visit one of my websites at http://www.endrebarath.com Your Pet Friendly Realtor. I contribute a portion of my commission to Local Animal Rescue Organizations