Mortgage rates are always fluctuating but when they get to historical lows as they are now, refinancing mortgage need to protect your investments and position yourself to be a big winner for better times that are coming.
When mortgage rates are this low, you can buy for less and finance for less. This is a win-win situation you don't want to pass up. Even refinancing your mortgage is a smart move.
If you currently have a mortgage interest rate of 6 1/2% or higher, refinance now, to give yourself the breathing room during this recession for cash flow and smarter interest rates. You have so many option to come out ahead if you make your mortgage rates work for you.
Refinancing can do several things to protect your investments. You can use the refinancing to move the credit card debt you have into a first mortgage and make the total debt a tax deductible tool or use the cash out option to invest in a down market. Either way, you need to act now.
The 1 1/2% mortgage rates I am talking about are in a 3-2-1 buy-down. It's a fixed rate 30 year mortgage with the first year interest rate at 1 1/2%, the second year is at 2 1/2% interest, and the third year is a 3 1/2% with the fourth through the 30th year at 4 1 1/2%. Who could not find that attractive?
The real winners in any recession are those who can see beyond the gloom and doom, to know that when the markets rebound, and they will, having yourself positioned to be better off refinancing mortgage is a smart way to safeguard and improve your investments.
Many people are lead by the broad view of the economy and allow fear to be the biggest factor in their investments. Playing your investments, whether it's mortgage rates, refinancing, or the stock market itself, should be done with a wider vision of time, rather than the immediate or current economic situation. Investments by definition, is for projected outcome, not using slot machine logic.
Many new home builders who are currently over stocked, or are pinched financially, due to their need for cash flow, are offering to assist home buyers with great mortgage rate assistance. Take advantage of a gift horse when others are saying, nay.
If you are in a position to sell your property now, using the logic of assisting home buyers with mortgage rate assistance in order to make your property sale the one that stands out, is an excellent sales approach. Real estate agents with a good working relationship with mortgage lenders can make the difference in getting your house sold.
Think about this option. You have 30 to 40 thousand dollars in equity, you have credit card debt outstanding, and you have a car payment or two, selling your home now, then using your equity to pay off outstanding debt you have and taking advantage of the low, low, interest rates on a new home could have you paying less per month and having all your debt in a tax deductible position. You have to think smart about your money and how to use it.
Do not let selling your home during a recession deter you from following through with your goal of moving up to a new home or even a larger home. Make the mortgage rates and the financing tools available, work for you and your best investment for 2009 may be in buying or selling real estate.
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