RATES ARE AT HISTORIC LOWS

Refinancing Booms as Rates Fall


According to the Zillow Mortgage Marketplace, consumers were being offered 30-year, fixed-rate mortgages for rates 5.25% on Monday. Zillow.com said that the average rate for 30-year FRMs offered on the Zillow Mortgage Marketplace dipped to 5.25% on Monday, Dec. 15. That is contributing to a spike in loan applications for refinancing. Refinancing during the first half of December was up 230% from the first half of November, Zillow.com said. Refinancing accounted for more than half of home loan applications in the December period.


Now is the time to speak to those buyers on the fence on purchasing a home. The purchase rates are in the low 5%, if not lower in some cases. The rates are at a 4.5 year low. Clients should be jumping to purchase homes with these rates.

Remember that with FHA loans the buyer can bring as little as 2.25% for a down payment. VA loans are set at 100% financing. NO MONEY DOWN loans exist for all vets.


Have them call me for a free, immediate qualification. I will send Realtors that pre-qual letter in 1 hour.

Refinancing is also available at 95% loan to value. Call for a quote.

Joe Phillips
386-615-7977