Bond and home loan rates rallied late Friday to reach their best levels in years! While I’m not normally a rate watcher, and definitely not a guy to tell people ‘Now is the time to buy!’ ; I think there is some opportunity to ride this rate dip and do one of two things.
1. Those that were on the fence, really serious about buying, but waiting for the right time may be in the perfect position to get a house at a steep December discount with a great rate attached to it.
2. Those hoping to ride the housing prices out a little while longer before deciding to sell can refi to make it much more palatable during the next year or two. Now, when refinancing, you always have to consider closing costs to make sure it makes sense, but something to definitely look into.
If you need any help in finding a good mortgage broker, I can always deliver a few suggestions that clients of mine have used in the past.
Those of you in Minnesota, stay warm and stay safe!
