The question is, will they go lower? I don’t know, what makes you think you know?

Presently, it is the Corona virus scare that has ravaged the stock market and pushed long term yields as low as I have seen them for a very long time. Is a correction coming? It always does, sooner or later.

What does this mean for you? You can do nothing, this is always an option. You can call your trusted mortgage broker and see what is available for you and your circumstances.

Refinancing is a hassle. It can be if your financial house is chaotic and your routine documentation is helter-skelter, then getting things in order can be daunting. However, with a little work, often on your keyboard, you can have what a lender needs in short order. Does a little effort resulting in monthly mortgage savings, resulting in hundreds of dollars of monthly savings make sense? You tell me.

With home appreciation the last few years being steady, even amazing, you may have the opportunity to achieve the following:

• Significantly lower your monthly payment
• Eliminate Mortgage Insurance
• Convert home equity to cash for whatever purpose you desire
• Consolidate debt
• Buy a second home someplace warm, or someplace mountainous and cold if you ski

Your only limit is your imagination!

Appraisal Waiver? Something else, an appraisal waiver (as in I don’t need one for your file) is far more common today than a year ago. With the necessary exhibits from you and an appraisal waiver I can close your refinance in 12 business days!

To be clear, I always advise my clients to think long term with the goal of a mortgage free home down the road. However, that does not mean we can’t take advantage of the opportunities afforded by home ownership along the way.