Refinancing? Assess Before You Say Yes
There’s been a recent re-financing boom like we haven’t seen in a few years, when rates dipped to their lowest in decades. Now the fed has dropped rates below 4% and homeowners are considering refinancing now because rates may never be this low again.
Currently the rate for a 30-year fixed mortgage is at 3.94%, which is the lowest it’s been since November of 2016. For perspective, the rate was 4.71% a year ago and 4.20% just four weeks ago.
Seeing this sharp decline makes refinancing very attractive to homeowners, but let’s look at three questions you may want to ask yourself before pulling the trigger on a refinance.
Can you say yes to the following?
- With the new proposed rate, will I consistently save $80 or more per month off my current mortgage payment?
- Am I in a position to eliminate my mortgage insurance based on the remaining balance of my current mortgage and increased property values?
- Will I be able to recoup the cost of this refinance in under two years?
If you said yes to all three, then you’re probably in a strong position to refinance your mortgage. If you answered yes to at least one, get in touch and let’s determine if a refi is right for you.
Ready to buy a new home or refinance the one you own? Please get in touch and I’ll be happy to answer your questions and help guide you through the process. I look forward to speaking with you.
Happy Independence Day!
This year is flying by and I hope you’re all squeezing in a little vacation time, even if you’re just taking a few days off to relax and not think about work for a while.
Many families will be away over the next few weeks. Whether you’ve planned a fun getaway or you’re simply barbecuing in the backyard with friends and family, time away from the daily grind is essential for recharging your body and brain.
If you are afforded vacation time by your employer and don’t take it, you’re doing yourself (and your company) a disservice.
Research consistently shows the health benefits of taking vacation time, like improved productivity, lower stress and better mental health.
So take that vacation (or staycation) and enjoy yourself this summer. You’ve earned it!
June’s Home Improver: Keep Bugs Out of Your Home This Summer
You may have noticed the spring has been particularly rainy and damp this year. You may not have loved it, but the many species of insects thrive on it. That means a summer filled with mosquitoes, ticks, ants, beetles, houseflies, spiders, centipedes and stink bugs.
Those creepy crawlies are bad enough outdoors, but they’re far more annoying when they invade your home. So what can you do to keep those invasive bugs out of your house? Here are a few tips:
- Pest control. If you live in a heavily wooded area and you regularly find insects crawling or flying around the house, you may want to call a professional to spray the rooms of your home.
- Declutter, clean, vacuum and sweep. Critters love a mess and thrive under boxes, in dark corners and in your carpet. The more you clean, the less chance of infestation.
- Seal your doors. The tiniest space in your door is a giant welcome sign to an insect. Head on over to your home improvement center and buy an inexpensive but effective door sweep.
- Repair or replace screens. See that tiny hole in your window screen? So do hundreds of creatures flying by and they will make themselves right at home if you don’t take care of it.
Honorable mention: Get some bats! Bats eat insects like people eat potato chips. You can’t have just one. In fact, the average American bat eats up to 1,200 mosquito-sized insects every hour, and each bat usually eats 6,000 to 8,000 insects each night.