Fed Cut is Good News for Those Who Act Fast
On October 31st, the Fed announced its second consecutive decrease in rates, cutting another 0.25% from the Fed Funds Rate. This change could directly impact millions of American borrowers.
Fed Cut is Good News for Those Who Act Fast Adjustable Rate Mortgages. If you currently have an ARM that is scheduled to reset in the next 14 months, then this news is good for you. Now is the time to investigate your options. Even if you have a pre-payment penalty or you’re behind in your payments, don’t delay. There may still be options available to get you out of your ARM and into a mortgage you can afford, including FHA or the new FHASecure program introduced by the President.
Something important to think about says Rebecca Hansen, Senior Mortgage Consultant at Liberty Financial Group in Greenwood Village, Co is the FOMC does not meet in November, so ask yourself this: “Can you really afford to roll the dice until its next meeting in mid-December”.
Buying at the Bottom of the Market. If you’re looking to invest in real estate in the next six to twelve months, and recent rate cuts have inspired you to start taking action, now is the time to prepare yourself for intense credit scrutiny. There are a lot of great real estate deals to be had today. But if your credit doesn’t stand up in today’s tight-fisted credit environment, then you could easily miss out on an exceptional opportunity, said Hansen.
What’s the point of taking advantage of discounted home prices if you can’t qualify for the right mortgage or interest rate that makes it all worthwhile? Get pre-approved now and know exactly what you can afford. And with the right REALTOR® on your side, you can have incredible negotiating power in a buyers’ market!
Are you considering Refinancing? Know Your Options while rate cuts often spark ideas of refinancing, this may not be the best choice for everyone. In some cases – especially in a market where home values are declining – refinancing may be impossible or disadvantageous.
If you would like a free mortgage review. Based on your individual goals and financial needs, Rebecca Hansen is avaliable to help you explore every available option for you and your family. She can be reached at (720) 746-4066.
If you would like additional information about real estate in Denver Colorado as well as anywhere in Denver Metro Area contact us at 1-800-791-3990 ext 232.
Jeffery McClintock, is a real estate broker in Denver and prides himself on providing clients with professional guidance in all phases of residential new construction, including market research, product development, consulting, marketing and advertising. His personal mission is to bring to you a level of knowledge, experience, commitment, high standards and results to answer your real estate needs. He believes, the most effective way to provide superior service is to build a strong working relationship with you. His system includes regular consultations and feedback, which is the best tool for identifying and clarifying your real estate objectives and help define strategic solutions.
