Rates Are Low – It’s Time To Refinance Your Mortgage

Wondering if now’s the time to refinance your mortgage?

You’re not alone.

Things have been a little crazy recently, with Janet Yellen promising interest rate hikes. The situation isn’t helped by low oil prices and an increasingly volatile Chinese market.

Sure, the Fed hasn’t increased interest rates yet, but who’s to say they won’t do so soon?

It’s for this reason that now’s a great time to consider refinancing your mortgage. If you missed the boat in back 2012, don’t miss it again.

Refinancing Basics

When we talk about refinancing your mortgage, we’re essentially talking about replacing an old mortgage with a new one.

The reason to do this is pretty simple and straightforward: you want your new mortgage to have a better term and/or interest rate.

There are all sorts of reasons why your rate may suddenly seem too high. Maybe you took a new job. Maybe the housing market changed. And so on.

Of course, if you’re looking to refinance your mortgage, you have to be careful.

Refinancing Risks

Your new mortgage won’t necessarily be better than your old mortgage. That’s why it pays to be prepared with the knowledge required to estimate what your new rate will look like.

There are a variety of factors that must be taken into account when you are trying to decide whether or not a new mortgage would save you money. Some are obvious — having bad credit could negatively impact your mortgage, for example.

Some are less obvious.

Trust the Expert

The process involved with refinancing your mortgage can be incredibly complicated. It’s for this reason that you are going to want to go to an expert who knows what he’s doing.

Emmanuel St. Germain is a licensed mortgage banker who has lived in South Florida for years. If you’re interested in using his experience, his office number is 561-362-8204. He can also be reached through his cell number, 561-400-7317.