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Prepare for lower rates-keep you closing costs low

August 5th, 2024 3:58 PM by Ken Morley

While predicting exact future rates is challenging, the current economic indicators suggest that lower rates may be on the horizon. If you're considering making a financial move now—be it buying a home, refinancing, or even taking out a second mortgage or Home Equity Loan (HELOC) take steps to prepare for these potentially lower rates and ensure you're positioned to benefit when they arrive. While securing a favorable rate is important, don't overlook the significance of keeping closing costs to a minimum. High closing costs can negate the benefits of refinancing when rates drop. When securing a mortgage, opt for terms that do not include prepayment penalties. This will allow you to refinance easily when rates drop, without incurring extra costs. Look for lenders such as A Home's Best Mortgage that offer low or no closing cost loans. This can help to ensure that you're ready to capitalize on future rate decreases.

Posted by Ken Morley on August 5th, 2024 3:58 PM

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7985 N Vance Drive Suite 300,
Arvada, CO 80003