Ready to hear some good news about the United States housing market?
The historic Brexit vote which took place recently has greatly affected markets around the world, including in the United States. The vote, which resulted in Britain choosing to leave the European Union, resulted in a $3 trillion selloff from the global stock market.
But while Brexit is negatively impacting some markets, it is also resulting in good news for homeowners and those who are looking to buy a house. Experts believe that U.S. real estate will be viewed as a safe investment by those who are currently wary of the stock markets, and mortgage rates are now sinking to record lows.
The latest S&P/Case-Shiller National Home Price Index reports that the cost of homes is up 5% since last April, which has made it tough for some to purchase the home they want. Buyers in the U.S. who have been struggling with rising home prices and tighter loan requirements should be encouraged to see these new rates.
“This Extremely Low Mortgage Rate…”
“This week’s survey rate is the lowest since May 2013 and only 17 basis points above the all-time low recorded in November 2012,” stated Sean Becketti, the chief economist of Freddie Mac. “This extremely low mortgage rate should support solid home sales and refinancing volume this summer.”
So what does all of this mean?
Well, if you’re a homeowner then this is the perfect time to consider refinancing your home. If you want to become a homeowner, then this is a great time to be in the market.
We’re quoting 20-year and 30-year fixed rates which are barely above 3%, with annual percentage rates in the same low 3% range as well. Yes, we can pay for all of your costs and lower your rate and payment!
If you’d like a 10-year or 15-year fixed rate, then the percentage is even lower, dropping below 3%.
Whether you want to just lower your payment OR lower your rate and shorten the term of your loan, now is the perfect time to accomplish either goal. If you’re a homeowner with a mortgage in Thousand Oaks, then Capstone Direct would be thrilled to help you take advantage of this opportunity.
If you have a mortgage less than $603,750 and your rate is more than 3.5%, it’s worth the call. There’s no obligation for you to commit to anything, and it won’t cost you anything to see if you can save money. Call Capstone Direct today!