The Mortgage Man

Get more out of your mortgage experience!

Thinking About Refinancing? Now May Be The Time.

Interest rates are trending better, and it could be the time for you to take advantage.

Yesterday, mortgage bonds were trading at prices that were tipping towards the resistance level of the 200 day moving average.  Then today….wow!  The trading day is not over yet, but if bonds close at current levels, they will have decidely crushed through the important 200 day moving average, and this is very positive for the trend on interest rates going forward.

As you are aware (if you read this blog regularly), mortgage rates are determined by the bond market and they fluctuate daily with the market.  This is the reason that we have “rate locks” so that you can take advantage of a good day in the market to lock in your mortgage rate before closing.  This means that the rat you have been waiting to see before refinancing may be close.  If you think it may be time to refinance, give me a call, and I can tell you fairly quickly whether it is in your best interest or not.

You can also check out the latest rates at SteveRussellOnline.com.

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