If you have an Adjustable Rate Mortgage that is going
to reset in the next year, now may be the time to consider
refinancing.
With the staggering amount of government spending
taking place there is a danger of increased inflation
and inflation is bad news for bond rates. As inflation
increases bond rates and mortgage rates go up.
Current fixed rate mortgages are historically low for
conforming loan amounts. Take a close look at your
situation and consider refinancing now versus waiting
and taking a chance that mortgage rates will be substantially
higher a year from now.
This is particularly true if you have a Jumbo ARM.
Investors have no appetite for fixed rate JUMBO mortgages
at the moment and there is very little market for them.
As a result JUMBO mortgage rates are very high.
However, there are some great alternatives for JUMBO
mortgages that may allow you to obtain a great rate until
the JUMBO mortgage market comes back into favor.
Posted by Terry Brunner. Terry is a Senior Loan Officer with Horizon
Financial. Terry can be reached toll free @ (877) 627-9211 x150 or
email TBrunner@HorizonFinancial.org. Visit Horizon’s website at www.horizonfinancial.org
