With the interest rates for 30-year home mortgages at 50 year lows, NOW may be not only a good time but a great time to refinance. What’s in store for mortgage interest rates? According to the Mortgage Bankers Association you should expect interest rates to steadily rise.
Bankrate.com provides a great free refinance calculator that calculates your payback period in months. Your lender can provide you with the current mortgage interest rates but if you wanted a rough estimate you could plug in 4.5% for the interest rate on a conventional 30-year loan or 4.25% for a FHA loan. At least this is what the mortgage interest rates were last week.
After you have determined the payback period, you need to ask yourself how long you plan on staying in your current Spring Texas home. If you plan on staying longer than the payback period, then call your lender because now is a good time for you to refinance your home.
Jill made me feel like we were genuinely in the BEST of hands for the duration of our home sale!... read moreJill made me feel like we were genuinely in the BEST of hands for the duration of our home sale! She is absolutely incredible at her job and we never had to worry about anything because the second we begun to wonder about anything, she already had an email or text on the way to put our minds to rest. :)
I really cannot thank her enough for the amazing job she did with selling my first house. I always felt like she made my husband and I a high priority and I am beyond elated with the impeccable work she did for us to sell our home at full asking price--and SO quickly! Her marketing strategy was for our home was brilliant, the photos she took were exquisite, and her patience with me during this new process was really admirable. I asked many, many questions since I had not sold a home before and I was humbled by the amount of generous time she spent solely answering my lengthy list of questions.
Thank you Jill. You are the BEST realtor. We are so grateful for you! read less