Interest Rates

 In Refinancing your Mortgage

According to the Federal Reserve, which is the government agency responsible for telling us these things, total outstanding consumer credit in the US right now is $4.331 trillion, and we are increasing our revolving debt (credit card debt) at a rate of 6.7% annually. Check this out to find out what the current interest rates are and to see how you can lower your rates.

Average Interest Rates

The average rate for personal loans in the US is 9.58%.  The average rate for revolving debt (credit cards) is 14.61%.

For a 30-year, the average rate fixed rate mortgage right now is less than 4%.

Consolidating Debt

Would you like to consolidate your high interest rate debts into one, low-rate mortgage?  That’s like asking, “Would you like to save money?”

If the answer is, “Yes, I would like to save money and get rid of my credit card payments each month”, then contact us today.  Refinancing your current mortgage and taking enough cash out of the equity you have in your home to get rid of those high-rate credit card payments sounds like a smart idea because it is a smart idea.  

It’s also a great way to spare yourself the pain of paying even higher interest rates as inflation increases.  A fixed-rate mortgage keeps the same interest rate until you pay it off, regardless of how bad inflation gets.  

Contact Us

Contact us today to see how easy it is to save money.  There is no charge to see if it makes sense to refinance, and we can almost always include the costs of refinancing in the new loan amount.

And if you need a pre-approval for a house purchase, or a referral to a real estate agent who won’t lead you astray, give us a call.  Our business is split almost evenly between purchase and refinance transactions, and we can get you a great deal regardless of what your current mortgage needs are.

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