Happy Holidays, give yourself the gift of Savings
The Holidays are upon us. There are very few things we want as adults that we dream of getting for the holidays. As kids, we would look forward to this time of the year. We looked forward to all the family gatherings and the presents. No worries of what we would get others, we were receivers not givers.
Fast forward a few decades. Our priorities have changed. We are now the givers. While it is great to receive a surprise gift, what gives us the most joy is giving. The smile on a loved one’s face when they pull off the wrapping paper to reveal a brand new something. Don’t forget yourself this holiday season. Mortgage interest rates continue to be low. If you are one of the millions of homeowners with a mortgage rate above 5%, you should make sure this holiday season you don’t overlook the one person who would appreciate the gift of savings, YOU!
Some facts. It costs money to refinance. On average, the cost to refinance a loan with zero points is some where around $3000. When you consider the monthly payment savings a reduction of just a 1/2% makes on a loan of $417,000, you will recoup your closing costs in less than 24 months and save approximately $45,000 in interest paid over a 30 year period. Refinancing your current mortgage could very well be the Gift That Keeps Giving.
Some More Facts. The government has already given the American public a time-line for keeping interest rates artificially low. This coming March 2010, the government has stated that it will stop buying mortgage debt from banks and Wall Street at the same rate they have been. Rates will start increasing to follow normal market trends – Higher. Your opportunity for a lower monthly mortgage payment is slowing slipping away. This holiday season give yourself the gift of savings.
Refinance your mortgage and receive years of happiness with your brand new mortgage terms. Its not a new bicycle but can make you just as happy. Call today and see what refinance opportunities are available to you.