If you have not refinanced, I highly recommend beginning the process soon.
Why? The Federal Reserve Bank will probably stop buying mortgage backed securities early next year. The announcement will likely occur next month. Traders on Wall Street will anticipate it. When the Fed buys less bonds, Wall Street traders will not buy them at current rates, but allow rates to rise. These historic rates will not last forever. At least if you start your refinance loan now and lock the rate, you can always let the rate lock expire and go with current market if rates are lower.
Do you have a different opinion? Call me at 714-310-4162.
Recent rave review:
“Hiring Dan Stone is like hiring a mortgage concierge! He handles it all – finding you the best rate, intro directly to your contact, and (the best part) follows up every step of the way! Any hiccups along the way, he’s there to help! Great experience – worth every penny.” -Rachel W.