Today, now, right now, pronto, may be the moment you have been waiting for if if you have not taken advantage of the low interest rates this year. Things are going to change again come fall and for many that may mean that they will not be able to take advantage of the historical low rates at all once they come into effect.
Proposed changes include lowering the loan amounts from the 729,000 range to 625,000. In high cost areas this effect many of the loans currently on the books and they will not have the opportunity to refinance or purchase at todays great rates.
Changes to appraisals and underwriting guidelines will also change again making it harder and harder to obtain good financing. In addition more and more risk based pricing base on credit scores will take affect.
Bottom line if your even thinking about taking out a new loan this is the time to do it. Rates are at all time lows and options are still great.
If need a free consolation to see if the time is right for you please give me a call at 800-777-9811. I have been helping clients in the mortgage business for over 30 years.