In recent months, the housing market has seen increases across the board. Fortunately for home owners, there has been a surge in home values throughout 2015. However, we have also seen a spike in interest rates in recent months, and with the Fed expected to hike rates as soon as September, the low rates we have seen over the past year could soon be a distant memory.
So how does this affect you, the homeowner?
If you are considering a refinance on hour home, these trends indicate that moving forward in the process now while rates are still low is your best option. While we are yet to see drastic spikes in our interest rates, we have seen a noticeable increase. As a home owner, you may see the rate jump from 3.735% to 4.25% and not think much of it, however on a $200,000 loan not only is that a $70+ increase in payments, but also an issue that could affect loan and refinance approval.
At MonsterLoans, we want to help you kick-start your refinance and guarantee the lowest possible rate on your refinance. Simply put, with rates on the rise, now is the time to lock in your low rate!
MonsterLoans is a privately-owned mortgage lender based out of Irvine, CA. Founded in 2003, MonsterLoans is the premier national mortgage lender specializing in VA, FHA, Harp, Fixed, ARM and Jumbo loans. With all services centralized under one roof, MonsterLoans is able to provide precise and specialized attention to every client, ensuring the best loan possible for each specific situation. At MonsterLoans, we depend on your loyalty and satisfaction, and our mission is to never let you down. For more information, please visit http://www.MonsterLoans.com