Mortgage bonds are trading near oversold levels. Fix and Adjustable rates are outstanding. Generally, we see some correction, a “bounce”, off a ceiling. The same thing occurs in the other direction, a “floor”. In the meantime, enjoy these great rates, which are at the lowest levels in about 40 years.
Understand that mortgage rates are unsupported at these levels and could change quickly and drastically at any moment. Unlike in early 2009, when the FED was buying MBS (mortgage backed securities), the market is totally reacting to influences in the world economy and here at home. Presently, we see more movement in 1 day then we used to see in several months. The market is extremely volatile and many borrowers are holding back to see if they can save another 1/8% could wake up and find rates have jumped a whole 1%.
Many people could save lots of money by refinancing. As little as ½% reduction in rate on a $300,000 loan would be worth considering. Payback would be very quick.
Also, we can assist with financing (and refinancing) in South Carolina, Virginia, Maryland, Delaware, DC, W VA, Georgia, Pennsylvania as well as North Carolina.
If a borrower has an FHA loan, we can do a “streamline re-finance”. No appraisal is required and there are no “lender” fees. For very little money out of pocket and in many cases, they will skip the next month’s payment and receive a check back in the mail for current escrow account.
Call today for information. See if you can save money. Don't wait call Vince at (910) 352 6562
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