How you can take advantage of low mortgage rates

Unfortunately, if you do not already have a FHA or VA mortgage from Bank of America, you cannot take advantage of these refinance programs. If you have a FHA loan from Bank of America, though, you can refinance to a new lower rate. FHA loans come in both fixed- and adjustable-rate mortgages and have very flexible qualification requirements.

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Low mortgage rates have many people thinking about buying a new home or refinancing their current mortgage.. It’s worth coming out and taking advantage of this.

With mortgage rates at such low levels, you might be thinking of switching mortgages by remortgaging your home. What factors might you want to take into account when making any such decision? mortgage interest rates. They may be at an all-time low right now, but that doesn’t mean they are going to stay that way;

As the housing market enters the winter months, home buyers can continue to take advantage of historically low interest rates, Reuters reported. While now is a good time to buy, the Mortgage Bankers Association’s weekly mortgage application survey showed applications decreased slightly by 0.9 percent on a seasonally adjusted basis for the week ending Nov. 7, demonstrating some potential.

While your rate (and with it, your monthly mortgage payment) could potentially increase dramatically down the road, homeowners who don’t plan to stay in their home longer than the introductory period can take advantage of those low rates.

Take Advantage of Low Mortgage Rates Before They Go Up February 12, 2018, 9:37 AM The days of exceptionally low interest rates are likely behind us.

Mortgage rates have plummeted since January but would-be borrowers and remortgagers are being urged to strike now to take advantage of the competitive market. Whether you are borrowing using a two-year deal, a five-year fix or even locking into a long-term 10-year fixed rate, prices are more.

Refinancing out of an ARM loan into a fixed-rate mortgage can lock in lower interest rates. With an ARM, you have scheduled rate increases built into your loan. Refinancing allows you to secure a lower interest rate for the life of the loan. Take advantage of the equity in your home to finance other purchases.

3 Things to Know in the Housing Market Today!  · Some we just don’t know yet. The following three areas of the housing market are critical to understand: interest rates, building materials, and the outlook for an economic slowdown. 1. Interest Rates. One of the most important things to consider when buying a home is the interest rate you will be charged to borrow the money.