24/07/2020
We are at the peak (or beginning) of the second wave of Corona in Israel.
On one hand, as predicted,
We are spiraling into a financial crisis that the country is not dealing with very well,
On the other hand, we are hearing talk about a vaccine.
Unfortunately, it will be a while until we are out of this crisis.
There is a direct influence from the financial crisis to the rise of mortgage interest rates-
This is not happening because the banks are taking advantage of the situation,
In order for the banks to give us money (for loans),
They have to recruit it from the public- this is called "The cost of recruitment".
In a time of crisis, money is fleeing the banks,
Which makes it harder for the banks to recruit funds.
They have a need to give incentive to investors by giving higher interest rates.
This, of course, influences anyone taking a mortgage-
The bank raises interest rates so as not to be at loss.
The good news is, that currently, the banks are giving mortgages with excellent interest rates.
I highly suggest that anyone needing a mortgage or refinance- now is the time to do it!
Take the money now (put it in a separate account), to make sure your interest is set.
Here to help you get the best mortgage for your needs,
Lazer
p.s. I am still offering my free masterclass which will help you understand the mortgage process, whether your able to take a mortgage, & a making the process easier altogether.
With the current situation, I am doing small (up to 9 people) home groups.
Interested in hosting a group lecture?
Call me! 050-2133261
