Fell by nearly one percentage point between november 2018 and may of 2019.
During the month of june, rates continued to stay low.
We've talked with a lot of customers over the past couple of weeks to review their current mortgage situation.
We are helping many of them refinance out of high interest rates to lower their monthly payments and save money over the term of their loan.
The forecast for the remainder of this year is rates will continue to stay low.
If you've been considering a refinance, give us a call.
We have several options to consider.
Cash-out refinancing is common.
Refinancing the term or refinancing the rate are also very common ways and reasons to restructure your home loan.
We have what we call a streamline refinance option that most aren't familiar with.
Streamline refinancing was introduced as a way to speed up the home refinancing process.
This is especially good for borrowers wanting to take advantage of low interest rates and/or get out of an adjustable rate mortgage or a higher interest rate.
Both fha and va offer the streamline refinance and a lot of times the fha streamline refinance can be done without requiring an appraisal and/or minimal documentation of income or assets 14.
At jts & co.
We want to sit down and discuss your specific situation to see if a refinance make sense for you.
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Interest rates dropping has been a shot in the arm for home sales as well.
This has been what some home buyers have been waiting for to make the move.
Some have wanted to buy a new home for a while now but didn't want to give up the low rate on their current home.
Now is the time to be pre- qualified and start looking for that new home.
Our pre-qual submission is fast and easy with our text or online applications.
We can usually issue a prequalification letter the same day you turn in your application.
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The us median monthly rent was up 3.2% in the second quarter of this year compared to a year earlier.
The increased median rent means a monthly payment of around $1500.
This rise in cost, coupled with the low interest rates, gives those who want to buy a double incentive to act.
You could potentially save a lot of money in monthly payments by owning a home instead of renting.
In most cases, you can own a lot more home than what you get when you pay rent and potentially save a lot of money in monthly payments.
Don't put equity in someone else's pocket, make sure you are the one benefitting from the monthly payment.
Buying a home is a major financial milestone and is traditionally triggered by a major life event such as getting married, having children, or job changes.
We take great pride in helping you through this process and want to help you become the next homeowner.
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Whether you are refinancing, a