Happy Friday!
Please watch the below video for a quick update on refinance rates and misleading refinance quotes.
Here is a screenshot of the BLS Job math I did
And here is the screenshot of the fine print from the mailer I showed you. Most, if not all, of the emails and mailers I receive regarding refinancing include massive rate buydowns that eat into your equity. Rate looks enticing, but fees are astronomical and typically have a break-even period, compared to your current loan, of 5-7 years. Meaning, you don’t technically save any money and recoup the refinance costs until you hit the break-even period.
As always, please reach out if you have any questions or need help.
I appreciate you and your trust! Chris
What’s Up With Rates?
**These are the current national averages. Please inquire directly for exact quotes**
10 Year Treasury Chart
10 Year Treasury Chart Time-stamped Friday @ 3:00 PM MST
Current Spread of 10 YR Treasury to 30 YR Fixed Rates is 2.50%. Still anticipating for this to revert back to long-term average of 1.75% – 2.0%
