03/13/2020
Mortgage Rates - here is the deal...
As you have probably seen from the gazillions of Facebook posts, mortgage rates worsened the past two days.... worsened a lot. However, all the indicators point to lower rates.
So what's going on you ask? -
Lenders and banks are overwhelmed with volume and are having capacity issues. So in order to control their ex*****on of the deals that are sold, they have inflated rates in an attempt to slow business.
What should you do if you want to refinance? -
Start the process. Put in your loan application, get a preliminary approval, gather your documents. When rates drop again, which they will, be prepared to lock!
If you are wondering what a refinance will do for you... send me a copy of your mortgage statement.
Kevin Teel Mortgage
[email protected]
303-709-3328