After rising for the past year, rates on home loans have fallen in the past few weeks to their lowest levels since late summer, according to Freddie Mac’s most recent rate survey. 

If you have been waiting to purchase a home or refinance, this may be the window of opportunity you have been waiting for.

Interested in refinancing? You could move to a 15-year mortgage and build-up equity more quickly or move from a rising adjustable rate mortgage to a fixed rate. You can also use the equity in your home to:

•Get rid of costly debts and lower your overall payment
•Undertake the home improvement project you have been waiting for
–whether it is a new kitchen or a beautiful deck.
•Purchase an investment or vacation home.

Speaking of purchasing, inventory is finally coming on the market and sellers are becoming more flexible.  If a new home is your goal, this winter may be the best time to act.  We can pre-approve you for the home of your dreams.

I will review your current mortgage situation –at no cost and no obligation–and let you know if you will benefit by taking advantage of today’s lower interest rates.

There is no way to tell how long this reprieve from rising rates will last, so I would move quickly.