It’s true that rates on are no longer at the all-time lows they were in 2013.  However, there are still compelling reasons to refinance your home this year.  You might be surprised who will still benefit from securing a new loan at the current rates.

  1. Your current mortgage is 4.75% or higher: While rates are super low, they are still much better than rates have been in the past.  If your original loan was secured during a historical high, it’s still a good idea to refinance and lock in a lower rate than the one you have.
  2. Your credit has gotten much better: If you got your original loan when your credit was much worse, it is likely that you can lower your interest rate regardless.  If you don’t know what your credit score is, you can call Tony and the Denman Team. They have proprietary software that tracks your score and provides advice on how to make it even better.
  3. You have an adjustable rate mortgage: if you have an ARM that hasn’t “adjusted” yet, it’s time to start looking at refinancing.  That’s because rates aren’t going to get any lower.  Lock in a consistent, relatively low rate now before they go any higher.