Why You Should Refinance Your Home

The biggest San Diego real estate news this summer has been the precipitous drop in home loan rates. We hit all-time historical lows just a couple weeks ago when rates dipped just below 4% for a 30-year fixed mortgage rate. Home loan rates dropped about 1% this summer from May-August. Rates are currently hovering just under 4.5% for a 30-year fixed. This is an unprecedented time and it can help you in a few ways:

1. Refinance: if you own a home (and are able to refinance), you could literally reduce your payments by almost 20% if your current rate is at 5.5% (which is still a very good rate historically speaking). For a free quote, contact my preferred lender with Bank of America, Enzo Morales, at 760.268.4314.

2. Buy A Home: If you have been on the fence about buying a home, now is the time. Your actual cost just dropped 20% in 3 months. Let me repeat that, your new home will cost you 20% less now than it did 3 months ago. I am expecting a surge of buyers above the normal seasonal variations this winter. Feel free to visit my website to search all San Diego homes for sale.

3. Sell A Home: the low interest rates are going to bring out the buyers. This summer has been a bit slow on sales, but with this drop in rates, you are more likely to get your price as a seller this fall. If you are thinking of selling, visit my website to request a list of San Diego home sales in your neighborhood.

I hope that you are able to take advantage of this unprecedented time in history by either refinancing your San Diego home, buying or selling a home – whatever works for your situation. If you would like further consultation on this matter, feel free to call me at: 858.761.1707.

Adam Pascu
Team 73 Degrees
Keller Williams Realty
info@adampascu.com
858.761.1707

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