If you’ve been checking mortgage news, you might have seen headlines about a “controversial refinance tax” put in place by the Federal Reserve, which was temporarily stalled. This tax will raise interest rates across the board for most mortgage lenders / brokers, but they decided to delay said tax; now, it will go into effect at end-of-October. So what does this mean for your home finance?
It means there’s a tight timeline on securing all-time low rates, while they last! Keep in mind – rates might never dip this low again, since COVID-19 helped them get here.
In many ways, these rates are a perfect storm of global events and stimulus from the Federal Reserve (AKA “the Fed”).
Instead of waiting for September and October to pass, why not start the refinance / home purchase process now? You’d do well to check rates every day, if possible, and you can do so 24/7 at ProspectQuote.com. It requires no personal contact info, and it’s mobile-friendly too.
We have dedicated and knowledgeable Loan Officers available M-F during regular business hours. Just call: 858-605-0952. We’re more than happy to assist, or just talk mortgages with you.
Thanks, and stay safe out there!
Prospect Financial Group
948 Garnet Avenue
San Diego, CA 92109
NMLS: 349089 | BRE: 01837707