Recently interest rates have declined to their lowest levels since the initial drop in January, 2009. This latest reduction creates a refinance opportunity for homeowners whose current mortgage rate is in the mid 5% range or higher! If you previously considered refinancing but determined your monthly savings would not be sufficient to offset the cost, it is definitely time to take another look. It is likely that your savings will be significant. This latest reduction coupled with outstanding home pricing is also the perfect combination for that new home purchase you have been contemplating. Interest rates are volitile. Don’t miss out on this incredible opportunity. Contact your CFS Mortgage Corporation loan officer today!
From Bloomberg:
U.S. Senate leaders moved closer to agreement to replace an expiring $8,000 tax credit for first- time homebuyerswith a smaller one that expands access to more borrowers, two people familiar with matter said. The deal would reduce the size of the tax credit to 10 percent of the sale’s price, capped at $7,290. The credit would be available on home purchases that are under contract by April 30. Borrowers would have 60 days more to close the sale.
