Now is Time to Look at Your Home Mortgage Options!
Mortgage Rates are the Lowest in History
So much is going on in Washington and in our financial markets. “Turmoil” is the word often used by seasoned analysts.
What does this mean for you? A great opportunity to lower your monthly mortgage payment and/or reduce the term remaining on your current mortgage.
There are many factors to consider, including:
-When the stock market struggles, mortgage interest rates generally drop. This past week the stock market experienced its biggest loss since 1978, and this pushed interest rates to all-time lows.
-Congress is considering the elimination of a tax deduction for home mortgage interest. If the home mortgage deduction is eliminated, home ownership won’t offer the tax write-offs it did in the past.
-Investment options are lean and financial uncertainty demands that you control your fixed expenses.
-The temporary loan limits instituted by our government are expiring on 9/30/2011. In other words, if you have a loan between $417,000 and $729,000 this may be your last opportunity to take advantage of these savings.
All of these factors indicate that this may be the best time to refinance your home. Whatever you do, consider refinancing your home as part of a comprehensive tax and investment plan.
With rates for a 30 year fixed mortgage currently hovering around 4.375% and 15 year fixed mortgages as low as 3.5%, there has never been a better time to refinance your mortgage to lower your monthly payment, or shorten the term of your mortgage, which will save thousands of dollars over the life of the loan.
One of our mortgage specialists is ready to help you reach the best decision applying your facts, the law and market opportunities. If you are looking to purchase a home or refinance, feel free to contact Steve Rossman from D&S Mortgage Programs, Inc. You may call (267) 765-0223 or email srossman@dsmortgages.com. Steve will help you think through your options. If financing is needed, he will work to find the best financing structure for your needs.
Mortgage Links:
Mortgage rates plunge, 15-year rate hits new low – http://linkd.in/pogUcs