Have You Checked Your Mortgage Rate Lately?
By Michele Barber, Northstar Bank of Texas, Denton County LIVING WELL Magazine
Mortgage rates are at an all-time low. Because of that fact, have you stopped to see if you can take advantage of these historic rates? If not, you may be leaving money on the table for you and your family.
Consumers read about economic factors and mortgage-backed securities (MBS) or bonds causing mortgage rates to change. It happens so often that many people just get frustrated trying to keep up with all of it. There is no secret formula to account for mortgage rate behavior when mortgage rates are dictated by investor emotions and by mass media force-feeding. But now is the time to do some research on your own to educate yourself; and then compare those findings with reputable mortgage professionals to guide you with the right type of mortgage to fit your needs.
Whether you want to purchase a new home, a second home, investment property or simply look into refinancing your existing mortgage, now is the time to talk with your mortgage specialist and see if you can benefit from these extraordinary times.
There aren’t many positive things to focus on in our news these days as we watch our stocks and 401(k) plans plummet. But the low mortgage rates can possibly be the silver lining in our economy’s storm clouds.
Stop what you are doing and do some research on your own. Then contact your mortgage professional, and find out if you can take advantage of these historically low mortgage rates TODAY!
Michele Barber is senior vice president of marketing for NORTHSTAR BANK OF TEXAS, nstarbank.com.