Interest Rates – Don't Miss Out!
Whether you need a Jumbo, Conventional, FHA, or VA mortgage to purchase or refinance a home in Fort Lauderdale or South Florida now is the time to act. We have gotten so spoiled with how low interest rates are that it can be very easy to lose sight and forget that they won’t be here forever and that we might never see rates this low in our lifetime.
Diana Olick with CNBC said it best in her “Is the Refi ‘Apocalypse’ Really Upon Us?”
Mortgage rates today are very low, but U.S. borrowers have a very short memory. They forget that the rate on the 30-year fixed, which sits around 3.6 percent today, was a full percentage point higher a year ago, and above 5 percent in January of 2010. The purchasing power gained through today’s low rates have arguably helped fuel the recovery in home sales. Low rates have also sparked a boom in mortgage refinancing, which in turn has put more spending money in consumers’ pockets.