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Homeowners – Have you been reviewing your monthly mortgage statement and thinking, “I wish I could lower this.”?

A recent report indicates that the current market may just allow for that through a refinance. Data from Black Knight revealed that more than 8 million current borrowers could be boosting their monthly savings through a refinance. That is because of falling interest rates*, according to Housing Wire. Further, Black Knight found that nearly 10 million borrowers could potentially lower their current interest rate by .75 percent. Such a decrease could save homeowners hundreds of dollars monthly.

Imagine what you could do with a few hundred extra dollars a month. You could save up for that vacation, that college fund, a home improvement project, pay down debt faster, etc. There are a lot of possibilities if you were to suddenly come across extra funds on a monthly basis.

Freddie Mac recently reported that rates have dropped below 4 percent and predicted that they may remain around 4 percent next year as well.

Refinancing can be a good way to consolidate debt, lower your payment, cash out through equity or prevent your payments from going up in the future by moving into a fixed-rate mortgage.

This window of opportunity in the market could be the ideal time for you to act. Your goals matter to us at Element Mortgage, so if you are looking to refinance in the Seattle/Tacoma/Renton areas, contact us so we can develop a refinance package that fits your unique financial picture. Explain to us what your goals are, and we will take the time to walk you through the process of refinancing with guidance that can help you to try to start saving monthly!

*©2019 American Pacific Mortgage Corporation. All information contained herein is for informational purposes only and, while every effort has been made to ensure accuracy, no guarantee is expressed or implied. Any programs shown do not demonstrate all options or pricing structures. Rates, terms, programs and underwriting policies subject to change without notice. This is not an offer to extend credit or a commitment to lend. All loans subject to underwriting approval. Some products may not be available in all states and restrictions apply.

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