Four Moves To Make Before Interest Rates Go Up

It’s been roughly a decade since the housing collapse in the United States, and if you haven’t checked as of late the homes and buildings are going up in your neighborhood like a 2007 party.  Part of the main reason for the boom over the past decade was the loosening of the monetary policy keeping long term borrowing rates next to nothing. Those of you who locked in 30-year mortgages between 3% and 4% should thank your lucky stars because we may not see those rates again for another 20 years or more.  Now that the United States has hit record low unemployment and corporations across America are making record profits, the Fed is now beginning to tighten the monetary policy.   Mortgage rates were between 4.5% and 4.6% for a 30 year mortgage during the week of February 25th, 2018 (source: bankrate.com) So, what four smart money moves can you make as the Fed tightens up the money supply? Cut ...

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Should I Refinance My Mortgage?

These past couple of years many clients have asked about whether or not they should refinance their mortgage.    Along with people who have never refinanced, those that did even 18 months ago may be licking their chops to do the tango for another refinance in 2012.  For the week that ended December 23rd, the 30-year mortgage rate fell to 4.05% which was the lowest in 60 years according to HSH Associates which is a mortgage data firm.    The rates have gotten better in the jumbo market for those with a mortgage above $417,000 as well, but if you are below that number here are some considerations about whether a refinance is right for you. 1.) How long will you live in the home? –   One of the first questions you need to assess is how long you think you will stay at your current residence.  Or, if you leave the residence will you decide to use it as a rental ...

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