Mortgage rates continue to hold steady at some of the lowest levels on record rounding out December of 2020. That’s good news for homeowners, as it extends the opportunity to refinance their home loans, reduce their monthly payments and lock in record-low rates. If you could use some extra cash over the holidays, the President of the Home Loan Arranger, Jason M. Ruedy, joins our Laura Cavanaugh with three great ways to save money and seize the moment on historically low-interest rates to make your holiday extra bright.
The extraordinarily low rates are driving an ongoing refinance wave. According to the Mortgage Bankers Association, the low mortgage rates are driving so many people to refinance that the housing market is on track to see $2 trillion in refinances in 2020.
You could put your home’s equity to work for you, consolidate debt into a lower monthly payment and potentially save thousands of dollars a month.
According to a recent survey by the National Retail Federation, the average consumer plans to spend just under one thousand dollars on gifts, food, spirits and decorations for their families during this holiday season. Some families are looking for ways to stretch and save their dollar to pay for Christmas. Refinancing your home could help pay those holiday bills.
“The rates that we have today are the lowest I’ve seen in my 27-year career, the lowest rates I’ve seen in my lifetime,” said Jason Ruedy.
With mortgage rates at 1.99% for a 15-year fixed term and 2.25% for a 30-year term, it makes sense to explore your options. Freddie Mac reports that one year ago, the 30-year loan rates were well over a full percentage point higher.
The Home Loan Arranger tells us that 98-percent of the loans currently in the pipeline are receiving appraisal waivers, which saves borrowers money and helps the loan to close faster. Ruedy says loans are flexible and can be customized to whatever term works for the homeowner. Your loan could close in as fast as 10 business days. You could skip up to two mortgage payments. Refinance now and your first payment won’t be due until March 1. That new refinance could result in life-changing money, trim years off the life of your loan and be the perfect gift for the holidays.
The Home Loan Arranger is local, A+ rating with the BBB and one of California’s premier mortgage lenders.
Call today (619) 400-4968 or learn more at www.thehomeloanarranger.com
Jason can go through the numbers with you and discuss how you could save. The call is free.
The Home Loan Arranger
(619) 400-4968
501 W. Broadway, Suite 800
San Diego, CA 92101