Hi everyone, it’s Jamie Cavanaugh with Amerifund here with your weekly mortgage update. It has been a while since we’ve talked about the market and rates so I thought I would give you an update. We saw a sharp reaction in the market on the heels of the election results and Pfizer’s announcement of a potential COVID-19 vaccine. Just as quickly as we saw rates tick up, they adjusted back down and we’re finishing the week strong with incredibly low interest rates.
The burning question is this: What will happen to interest rates as we head into the new year? How long will these historic lows last?
I wish I had a crystal ball. I don’t – but I do have data and a lot of market experts providing their educated opinions about the direction that things are going in and what I can tell you is this:
We do not know for sure how much more runway we’ve got with these low rates. But we know they’re here today and as they say – seize the moment.
We have Lenders running specials on FHA and VA streamline refinances, home equity lines are back and even jumbo loans are creeping back into the market again. Now is the time to take advantage of historically low interest rates. Tomorrow may be too late.
There is no telling when we will have the ability to borrow money this inexpensively again.
As always, if you would like to talk to a Mortgage Expert on our team about your options, call us at (800) 570-LOAN or visit us at Amerifund.com today.