Mortgage interest rates may not be at the record low rates that we’ve seen over the last year or so, but they “are what they are”. By that, we mean that, although interest rates are not at their all-time lows, they are still low enough for borrowers to accomplish what they need to.
Borrowers are still buying homes and the rates are within reason to make the home purchase affordable. Borrowers who need to refinance for a different reason can still do so. In cases like a divorce buy out, refinancing out of a real estate contract, refinancing an inherited home, buying a home from your landlord, or taking cash out to utilize your home’s built-up equity—all of these are reasons to refinance. And the rates are still reasonable in order for borrowers to accomplish any of these refi goals.
So, when we say rates “are what they are”, it means the mortgage industry hasn’t come to a grinding halt. It’s still a good time to buy a home or refinance.
As rates have changed, it means borrowers really need to shop around; the national and internet mortgage lenders are chasing profits and with that come some shady deals for consumers.
Don’t get taken advantage of– shop your mortgage and be sure to include a trusted local mortgage company like Indigo Mortgage.

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