Steiner Ranch Real Estate

I read recently another update on the interest rates going down even more. That really calls for a careful study of your current interest rates, and see if it deserves a refinance.

On Thursday, Freddie Mac’s nationwide survey found that 30-year, fixed-rate mortgages had declined to 5.78 percent from 5.93 percent the previous week.

Freddie Mac says the big drop in mortgage rates is fueling a boom in refinancing, with mortgage applications up 58 percent since mid-August.

Another solid reason to do it now rather than end of year or next year, is with the new presidential goverment in place, rates are most likely going to go up apart from a lot more changes.

However, be very careful in deciding whether to refinance or not. As the interest rates are not the ONLY deciding factor. I will post some information on it later this week or next.