Rates are Climbing, Home Appreciation Is Slowing, Programs Are Changing. Even if you love your current rate, now might be a great time to consider a cash-out refinance.

1)  Rates Hit 7 Year Highs

Last week, rates hit a 7 year high. FHLMC projects that they will keep going up. Every time rates move up, the cost of accessing your equity goes with it.

2)  Home Appreciation is Slowing

“As home price appreciation begins to slow, homeowner equity, the largest source of wealth for most middle-class American households, will grow more slowly.” Mark Fleming, chief economist at First American.  It is very possible that for the time being, we are at a peak equity position.  Depending on where you live, you may be experiencing peak equity.

3)  Lending is More Flexible

In the last year, many powerful lending tools come back into the market.  We have expanded credit guidelines, nontraditional income calculations, and 1st/2nd combos.   This means more choice for the savvy homeowner.

Flexible lending, rates trending up and equity appreciation slowing are three reasons to explore your mortgage options before the end of 2018. We would love to talk.   

Schedule Your 5 Minute Cash Out Mortgage Review Today



*While this is based on a real loan, results vary and a cash-out refi isn’t right for everyone.
**MBA projects rates to rise by 12% in 2018
***Loan Details, C/O Refinance from 4.5% to 5% Interest 5.179% APR, credit score 700, $444,000 loan amount on a 30 yr Fixed.