Take Advantage of the Current Window of Decreased Interest Rates!

Last week, we saw a decrease in inflation, which the market reacted to positively. Over the last 3.5 business days, there’s been a decrease in interest rates by about .5% or sometimes a little more (in all fixed-rate mortgages). This is increasing buying power, which is wonderful news!

This is also causing the fixed-rate mortgages to compare more favorably now (versus last week) to adjustable-rate mortgages (ARMs). ARMs give you a lower payment initially, but then depending on the term of that mortgage – forces you to refinance. Our opinion based on the movement of the last few days, is to get into a fixed-rate mortgage, secure that home you love and then worry about refinancing later.

Connect with your loan officer, and make sure to get out there to see or show some houses!