Mortgage Rates Nearing Historic Lows in Northern Virginia. Opportunity Strikes Again!

  • It’s amazing how many times a once-in-a-lifetime opportunity comes around. But here we are again with mortgage rates nearing historic lows.
  • People who need to pay the most attention are the one-third (1/3) of homeowners who could currently benefit from refinancing. Not to mention buyers sitting on the sidelines deciding when is the right time to purchase a home.
  • It’s fairly unprecedented to have borrowers refinance in just 6 months, but the full percentage point rate drop since November 2018 can produce savings even for many homeowners who purchased just months ago.
  • A reduction in rate by 1 full point on a $500,000 loan produces $3,600 in savings each year. This is equivalent to a huge pay raise!
  • How much wealth does this savings create after just 10 years at an average S&P 500 return of 7%?  $60,000

I hope this helps you when reviewing your wealth plan. Please contact me with any questions about your mortgage, or when buying or selling a home or investment property.

I’m always in search of delivering compelling value to my clients!​

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