Mortgage Rates Still at Historic Lows
If you have not already, now is the time to act If you may benefit in lowering your interest rate with pending unknowns and election coming. We are resending some of the information from our last Summer newsletter below for those that may benefit, but it’s been a wild year and we’ve never seen anything like it. Of course with the demands investors are faced with the process is not normal, but longer rate locks and patience is just a requirement today to settle on historically low interest rates. ** We thank all for their patience and support during such historic demands.
To explain this rate environment in text alone would be nearly impossible for what has occurred the last 8 months or so. Market and non-market changes, demands, a global pandemic, etc. have impacted rates and liquidity with additional variables to come. Please contact me directly anytime to discuss the market or questions and we greatly appreciate your referrals also to all that you know or hear about refinancing. Remember- lenders are not created equal (especially the lender that services your loan) and Vantage forces competition among the top wholesale lenders in the country to ensure the most favorable loan terms and options… with full rate sheet and recapture presentation.
Is it time to get a quote or refinance? We can run a quote for you by contacting us (thanks for your patience again) – and comparing our network of wholesale lending partners. If you don’t wish to extend loan term you can choose any fixed term between 8-30 years on conventional loans.
- If you have a 30 year conforming conventional rate around 3.75% or higher
- If you have a 20 year fixed conventional rate around 3.625% or higher
- If you have a 15 year fixed conventional rate around 3.5% or higher
- If you have a VA or FHA rate at or above 3.0%
- If you’re trying to remove PMI, or refinance out of FHA to conventional
- If you’re considering shortening your term
- If you’re considering cash-out for home improvements or debt consolidation, paying off a second mortgage, etc.