April 2nd, 2019 8:32 AM by Devin Murray
Federal Reserve – announces on March 20th, 2019 no rate increases through the rest of 2019 – great for purchases and refinances
Interest rates across the board hit 12 month lows early last week and are trending back upward as of late last week. Rates spent the majority of 2018 climbing so this is great news not just for purchases.
The power of a refinances is big and can help realtors too – borrowing money for second homes and investment purchases against a primary residence is the cheapest money out there. In combination with good rates and higher loan to value maximums, there has not been a better time in over a year to refinance. We will talk maximum LTVs for on cash-out refinances next week.
If you missed out last week key conventional guidelines are freeing up much needed money for both condo buyers and existing owners. The details of the full article are here.
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