If you missed 2012’s mortgage refinancing opportunity, we have good news. You get a second chance, even if you were turned down last year. What’s changed? Home values.
Home prices are rising and that’s pushing home valuations up and making it easier for homeowners to refinance at attractive rates. Meanwhile, while rates are slightly up from 2012’s best offerings, they are still at historic lows.
Our advice: Talk to your mortgage banker about your personal situation. Locking in a low mortgage rate now is a great way to make a meaningful mark on your family’s home investment and long term cash flow.
Says Hunter Marckwardt, Vice President of RPM Mortgage:
“With home values continuing to rise at a fast pace, we are seeing great opportunities for homeowners. Those who previously did not have the necessary equity in their homes to refinance are now able to take advantage of this current low rate environment. We’re also seeing equity lines coming back into place to help bridge the gap for those home owners who are in the 85%-90% loan to value range.”
We’re also seeing equity lines coming back into place to help bridge the gap for those home owners who are in the 85%-90% loan to value range.”
Read more about rising home prices throughout the Bay Area in Pacific Union International recent article titled, “Bay Area Home Prices Attract Attention.”