Is now a good time to refinance?

Now would be the absolute best time to refinance.. in fact 60 days ago would have been even better, but the direction of rates are up... The Federal Reserve announced that they will be pulling back from purchasing Mortgage Backed Securities earlier this month, and that will have a very negative impact on interest rates.. they are going up, so move quick.. The best advice I can give you is to contact a LOCAL mortgage broker and apply with them. Do not use the local "Big" bank, or one of those 50 states internet lenders or nationwide lenders...By applying with your LOCAL Broker, you have an advantage because he's familiar with local customs and works with numerous lenders, seeking out the best loan terms for your particular scenario. Because he has lower overhead, he can offer you lower rates and lower fees than most of the larger lenders.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com

I hope you did.

Now would be the time to refi. Rates are expected to go up and have been weekly. You can contact me at tom@axismortgages.net for more details.

Now is a good time.

Regardless of how great rates are, your personal situation will be the determining factor for that decision. EX: If you're in a 4% 30 YR fixed mortgage and not looking to take cash out; then the answer is no. If you're current loan is an ARM at 3.5% currently the answer is yes. It all depends on your goals.

As one of the other lenders noted it will depend upon your current situation and your plans. You need to contact a local, licensed mortgage professional, who can take you through the steps to determine if refinancing is a good option for you. Currently most of the financial experts are predicting that rates will be climbing in the last part of this year - but they could be as far off as your local weatherman -- we don't really know. I would suggest contacting the home office of my company - Bay Equity, in San Francisco, at 415-820-4548 for help in determining your best course of action.

I would say that now is a good time to refinance. Rates have already hit their bottom several weeks ago and the FED is talking all about increasing the rates an not lowering them. However, it all hinges on the economy. Most if not all economist are anticipating that the economy will be getting better, slowly, but better and that spells higher rates. There is small possibility rates will come back down. But if your a betting man i would be refinancing now before they go any higher.

All I can say at this point is yes, and do it quickly. Rates have been inching up and I don't see anything in the horizon that could reverse that trend. Although none of us can predict the future, you can only analyze trends and right now my advice to anyone would be not to wait.