According to Freddie Mac's weekly mortgage rate report, average rates for 30-year fixed rate mortgages is now at the lowest it's been all year. This is good news for anyone who's looking to buy a home in Denver, but it's great news for current homeowners hoping to reduce their rate.
As of this week, the average rate for a 30-year fixed rate mortgage was 4.19%, the lowest rate in a year. 15-year mortgages, popular for many people considering refinancing, are of course even lower. If you've been on the fence about refinancing, now is the time.
Refinancing can save you tens of thousands of dollars over the lifetime of your loan. I can assess your current situation with a cost benefit analysis to ensure refinancing will save you money and put you in better long-term financial health. Since the start of 2014 economists have predicted that interest rates would steadily climb throughout the year, so this sudden drop is a good window of opportunity to refinance before rates increase. If you're interested inpurchasing,refinancing, or learning more aboutmortgage ratesin Denver, simply call me. I would love to sit down and discuss your needs.
Rebecca Carr is a licensed mortgage broker with First Option Lending 303-803-1907. Contact Rebecca at rcarr@firstoptiononline.com. License #235918.
Socials