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JTS Mortgage Minute 10/22/19 - Refinancing Your Home

Credit: WCBI
Published on October 23, 2019 -

JTS Mortgage Minute 10/22/19 - Refinancing Your Home

Jeff Farnham of JTS & Co.

Mortgage Professionals explains that with a projection by Freddie Mac that favorable market conditions will prevail for the rest of the year, now is an excellent time to purchase or refinance your home.

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JTS Mortgage Minute 10/22/19 - Refinancing Your Home

Housing market update 1.

Another drop in 30-year mortgage rates meant an increase for applications moving into october, especially for refinances.

2.

Overall applications were up over 5% led by the refinance share of mortgage activity increasing to over 60% of total applications.

3.

Lower mortgage rates are having a profound impact on home affordability, pushing it to nearly a three-year high.

4.

In other words, the decline in rates since november has been enough to boost buying power while keeping monthly principal and interest payments the same.

5.

The current 30-year rate has cut the monthly principal & interest payment on an average priced home by 10%.

6.

The payment-to-income ratio is the second lowest it's been in almost 2 years.

???????????????????????????... 7.

The us economy added 136,000 jobs in september and there was a reduction in the unemployment rate making it the lowest it's been in 5 decades!

8.

The labor market is still healthy while wage growth remains strong with a 3.5% increase from a year ago.

9.

Add in that we believe the fed will cut rates again this quarter, it's a good boost for potential home buyers.

???????????????????????????... 10.

If you've been thinking about refinancing or purchasing a new home, now is the time.

11.

With rates where they are right now, you can afford more home for less per month.

12.

Contact your lifetime mortgage advisor at jts & co.

For a free consultation.

13.

We will review your specific situation and determine what options fit your needs best.

Cg: now is the time 14.

The "good time to buy" and the "good time to sell" components posted three and four percentage point increases in september.

15.

But buying or selling a home can be a stressful process if you aren't utilizing the expertise of a local, licensed real estate professional.

16.

On both sides of the home buying experience, buying or selling a home can be a much smoother process when you have the guidance of someone that does it for a living.

17.

Much more goes into the process than you might think.

18.

In the golden triangle, we have some top-notch real estate agents.

19.

They know the area, the school districts, and where the new developments are.

20.

Not to mention how to handle the not-always-so-easy negotiations and paperwork that goes along with the transaction itself.

21.

Even when looking at for sale by owner homes, speak to a trusted real estate agent about viewing the home.

22.

Most fsbo sellers are willing to do a one-time showing for the realtor and their clients.

23.

This ensures that you are protected, that you know the right questions to ask, and if your offer is in line with what is happening in the current market.

24.

Once you're prequalified, if you need us to refer a realtor to you, we'll be happy to help you find the right fit.

???????????????????????????... cg: lifetime mortgage advisors 25.

At jts & co.

We strive to be your life-time mortgage advisor.

26.

Our concentration on home loans and low costs helps us be the best and most competitive mortgage company in the area.

27.

If you've already started with a national lender, it would be worth the call to get a quote from jts & co.

28.

From your very first purchase to your refinance, to your final dream home.

29.

We want to make sure you are given the best experience possible, so you'll want to come back time and time again.

30.

If you're considering purchasing or refinancing a home, give us a call.

31.

Prequalify, shop for homes, and move in before the holidays.

32.

At jts & co.

We are local.

Trusted.

And experienced.

And we are your lifetime mortgage advisors.

Thanks for joining me today, be sure to tune in next week.

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