I see I’ve been a poor blogger. My last blog was “Interest Rates are Rising – But Don’t Panic”.
Now interest rates are dropping! They are back down to where they once were and may even go a bit lower. So, if you’re on the fence about buying a home, get off the fence! You have much more buying power with the lower rates, so you may be able to buy more home for your money.
If you can’t find the home of your dreams, look into a fixer-upper. I know Alcova Mortgage offers a Quick Fix loan that allows the purchaser to borrow additional funds to improve a property. Other lenders may have similar offerings.
If you took my advice back when the rates were rising and went ahead and bought, now is a great time to refinance. It will save you thousands over the life of your loan. Contact your lender to see what he can do to lower your rate. If you need help finding a lender, give us a call at Blue Ink. We work with countless lenders (as well as real estate agents) and know which ones are the best.