REAL ESTATE: The Window of Opportunity is Open Again

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Despite the recent fluctuations in the market and prognostications to the contrary, mortgage rates have reached record lows. The rate for a 15-year fixed-rate mortgage hit a record low during the week of August 15, 2011, averaging 3.36%. Rates for a 30-year fixed-rate mortgage hit their lowest levels in 40 years, averaging 4.15% for the same period. From this corner, consumers have an incredible opportunity to refinance either into a more favorable interest rate, a shorter amortization period, or to move from a variable to a fixed rate mortgage.

 

 

  • According to the Mortgage Bankers Association, refinance applications were at the highest level of the year, up 30% for the week ending August 5, 2011.

 

  • According to Freddie Mac, 34% of those refinancing in the first quarter switched to a 20-year or 15-year product, representing the highest share in seven years.

 

Don’t wait! History has consistently demonstrated that a wide open window of opportunity can suddenly slam down on the fingers of a complacent consumer. And trust me, missing out on these rates will cause a pain that lasts for a long time.

 

Reager & Adler can assist you with your refinance by providing:

 

  • lender contact information;
  • a significant discount on your title insurance premium if you refinance through our title company, Midstate Abstract; and
  • personalized Concierge Service.

 

Contact Reager & Adler at 717-763-1383 or e-mail us at contact@reageradlerpc.com.

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Harrisburg Magazine Readers' Choice 2011