Mortgage Interest Rates Drop in 2019
Posted by Carlie Berke, CDFA®
March 29, 2019
Mortgage interest rates have just experienced their biggest drop, a quarter point, in over a decade. The 30-year mortgage is approaching 4% again and has dropped a quarter point in the past week. If you are considering a refinancing or purchasing a home related to a pending divorce or for other reasons, now is a good time to reach out to mortgage specialists. Another article today discussed the competition between mortgage lenders to get loans closed in record time, typically under 30 days, and this is very helpful to potential buyers.
If you are considering a divorce and you have not yet filed, there is an opportunity for a spouse who wants to keep a home, to try to qualify to refinance the home in their own name before filing for the divorce. Otherwise, spouses involved in a divorce proceeding most often have to wait until the divorce is final which takes a minimum of 6 months but more often a year or more. That creates potential interest rate risk and can hurt a spouse’s ability to qualify if rates move up.
Furthermore, this may help the housing market for both buyers and sellers as housing becomes more affordable when interest rates drop. So if you are thinking about selling or buying a home, now would be an excellent time to be in the market.
Want new articles before they get published?
Subscribe to our Blog.
*Your information will be kept private and not shared with any 3rd party.
62% of divorced people do not have wills, compared to 42% overall who do not have a will.read more
Three important considerations related to the marital home and child tax credits in your divorce as a result of the Tax Cuts and Jobs Act (TCJA).read more
When it comes to divorce, the limitations on state and local tax deductions, including property taxes, may be an additional reason to consider selling the family residence.read more
Get started on your new path today.
Your Money Advocate
We envision a divorce process that allows you to keep your money in your family by developing affordable, common sense solutions that are compassionate, straightforward and transparent, resulting in empowered decision making.
Office Hours: M-F, 9am-5pm
Call Us: 858-342-7756