My New Blog

Should I refinance now?

October 21st, 2024 12:21 PM by Sam Kader MLO130505

With housing inventory levels rising and interest rates at 20-month lows, I understand your dilemma if you're in a "wait-and-see" mode. Nobody wants to catch a falling knife, but no one wants to jump into a speeding car either. However, there are certain steps you can take to prepare yourself to take advantage of the opportunity when it arrives. 

The next Fed meeting is planned for November 6th,  7th and December 17th,  18th. However, the next cycle for rate improvements might already be on its way and hopeful home buyers and refinancers should be careful not to expect immediate big dip in rates since any rate improvements from an impending news (good or bad) may have already been baked into current rates in anticipation of the future rate cuts or increases. That meant only a short window of opportunity exists when homeowners waiting to refinance must move quickly to take advantage to lock-in their rates. If you didn't act within a day or two of that particular window, those rates were gone.  We can start your refinancing or Pre-Approval process without locking the rate. 

In preparation - please let me assist you in the following items: 

  1.  Please complete our secure online loan application here. (If you are a repeat client - we will only require for an updated information below). 
  2.  Please have the following items readily available:
  1.   Please provide 2 most current pay stubs
  2.  Please provide 2 most current W2s (2022 and 2023)
  3. Please provide copy of current mortgage statement (for refinancing).
  4. Please check your own credit report for free here and pay a nominal fee to obtain a credit score. I will eventually need to pull your credit with our company's name when ready, but knowing contents of your credit report ahead of time to avoid any surprises is very useful. So much is riding on it.

The objective is to prepare your file so that when you are ready to lock-in your rate - we can lock it and proceed quickly.  Please check your current market rates here and please reach out to me at any time with any questions. 

Posted in:mortgage rates, and tagged: mortgage rates
Posted by Sam Kader MLO130505 on October 21st, 2024 12:21 PM

Archives:

Categories:

My Favorite Blogs:

Sites That Link to This Blog:

/Apps/Forms/LeadFormViewer.aspx?FormID=43334&GroupID=315148&PageName=Blog&AWSAccountPageID=50252396&NotificationEmail=

Pacific Coast Financial LLC

Lic# MB 78982

1329 N 47th St # 31045
Seattle, WA 98103