What’s Happening with Refinance Rates?

I'm going to be keeping you guys informed on this - I know many folks purchased when rates were higher and I'm always looking out for how to get you guys a better deal! Remember, typically the re-finance rate needs to be at least 1% lower than your current mortgage rate for it to be a great deal for you and really make a difference.

Refinance Rates have hovered around the mid-6% range for several weeks. Above - WoW is your week over week change. After dipping slightly in late October, we saw a small uptick this week. Overall, we’re still sitting roughly 3 to 10 basis points lower than a month ago - steady, not soaring.

• The Federal Reserve cut rates last week, briefly lowering bond yields, but mortgage rates rebounded slightly.

• The 10-year Treasury note is holding near 4.10%, keeping mortgage rates in a tight band.

• The Mortgage Bankers Association reports refinance activity dropped last week as borrowers wait for clearer downward momentum.

You Are Important to Me!

I want to make sure you know how much I value you as a client. My primary source of new business is referrals from people who already know and respect me, and I want to build my business by working with great people like you. My goal is that you will be so impressed that you can’t wait to tell your friends and family about me and the fantastic service you received!

I am always looking out for you and keeping you informed! Please don't hesitate to reach out if you have any questions about where things are going in your neighborhood. If you want to take advantage of this unique market, let's have a conversation about your real estate goals. And the best compliment I could ever receive is for you to send another wonderful client my way. I am always here for you and the people you care about!