Rock Bottom Mortgage Rates – Buy Now or Pay Later
Industry advisors across the board are once again reinforcing the fact that those looking to lock in rock bottom mortgage rates have never had a better opportunity, with rates not having been so low since the 1950s. As it stands, 30 year fixed rate mortgages can be taken for 4% and while overall home sales across the board have remained less than inspiring, the low rates have led to a surge in refinancing.
Some agents have noted their business tripling when it comes to refinances, stating that although it might not be the best solution or even available to everyone, it is still very much worth enquiring. Those who qualify stand to make enormous savings upwards of tens of thousands of dollars on their overall mortgage balances.
However, the service fee attached is far from low across the boards and it should be expected that most will have to stump up around $2000 – which will of course take time to recoup. Sadly, this lump sum has already been enough to put many off the idea altogether, who simply do not have such cash lying around for use.
Furthermore, those who have the finances required to foot the arrangement costs must also be in possession of a glowing credit history and long-term job security with proof of guaranteed income. Needless to say, those who tick all the right boxes may be well and truly in their element, but for the millions who don’t, the low mortgage rates really hold very little appeal at all.
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