Mortgage Markets have gone up and down in this current range for over two weeks now. Tuesday afternoon we saw near all-time low Mortgage Rates again but back up Wednesday and today. Are you thinking of refinancing? Just submit your Application, LOCK in your rate for 60 days and begin the Mortgage Banking refinancing process which is not always fun.
The lowest 30 year fixed mortgage rates have fallen into the 4.375% to 4.5% range for well-qualified borrowers. Some Banks will even go as low as 4.125% if the borrower is willing to pay a point (1% of your loan amount).
Mortgage Bankers will only be able to offer these near all-time low rates to borrowers who have perfect FICO credit scores and equity in their home to qualify for a refinance. If you are not a “perfect borrower”, mortgage pricing is a bit higher but should still be in the 4.875% rate range.
Inquire within for current Mortgage Rates or guidelines bc@SmarterBorrowing.com 617.771.5021
FLOAT or LOCK
If I was closing on a Home Mortgage in the next 0 to 15 Days – LOCK
If I was closing on a Home Mortgage in the next 15 to 30 Days – LOCK
If I was closing on a Home Mortgage in the next 30 to 60 Days – FLOAT
If I was closing on a Home Mortgage in the next 60+ FLOAT
This is only my opinion of what I would do if I were financing a home. It is only an opinion and cannot be guaranteed to be in the best interest of all/any other borrowers.