Now may be the time for you to refinance!
Have you ever heard of an "inverted yield curve"? If you understand the basis behind the fact that people who put money away for longer periods of time earn more money than those who put away money for a short period of time. That's what is known as an “inverted yield curve,” and it’s typical in investing. Well, the year 2006 as produced economical situations that are upside down and backwards. The fact of the matter is that the 10-year Treasury is paying much lower interest rates than it was 4 months ago with rates approaching 4.6 percent. Why is this important to you? Simply stated, because the treasury directly affects what mortgage rates you can obtain.
And then, add to the fact that most people aren’t thinking about refinancing or filling out paperwork during the holiday season - they just have so many other things on their mind. That may be to your distinct advantage if you are one who is on top of things and not prone to procrastination! Now is a great time for you to take advantage of the slow down. You can shop your refinance all over right now – you can search on your own or we can recommend someone in our market who will take the time to help you find the right mortgage for you and your particular needs.
If your credit is without blemish, you can likely obtain a loan in the five-percent range on a 30-year loan right now. For 15-year loans, you can get below 5.5 percent. And even if you don’t have great credit (but decent scores), you can still get a good deal. You may also want to consider a home equity loan if you have a second mortgage. Rates on HELOCs (Home Equity Line of Credit) are great at credit unions if you’re willing to borrow for five years and you have good credit. So don’t just sit there... Take advantage of this opportunity TODAY.
For more information, please visit our website at http://www.BestHomesInJacksonville.com