"Refinance Today?"

I hope this posting finds you well in a rather “interesting” financial market. With so many questions surrounding this industry, I want to remind you that I’m here to help, answer questions, and offer any other guidance that I can.

With that being said, the purpose of this email is to inform you of current interest rates. This afternoon rates on a 30 year fixed, 20% down loan were at 5%. This is pretty amazing, considering 3 months ago this same scenario had rates in the mid 6’s; however, as I’ve said many times, good rates = bad economy. So it’s not a win-win overall, but it could be very beneficial to you individually.

Unfortunately, refinances are faced with several challenges in this market:

• In general, home values have dropped which is causing appraisal issues.
• Many homes have loans that are no longer offered (100% financing, 80/20, 80/15/5 are loans of the past)
• PMI would be needed if you have less than 20% equity (PMI is no longer the “dirty” word it once was though)

Looking past these challenges, the only risk of refinancing is spending $350 for an appraisal. Even if one of the above challenges pertains to your loan, I’m more than happy to spend any amount of my time to advise you during this unique opportunity.

I’m not a fan a speculating where rates may or may not go, so I’ll do my best to simply lay out the facts and be upfront and honest about your situation when we talk. This may not be the best option for you at this time, but it's at least worth considering.

Hopefully you will find this email helpful because it's definitely not intended to “depress” or upset anyone in regards to current home values or past interest rates. I just want you to be informed on today’s real estate market and realistic while weighing out your options with refinancing. Please feel free to call or email if you have any interest in chatting about this. Thanks for reading, and Happy Holidays!