Are you wondering if mortgage interest rates are going to come down?
We’d all like to know, right?
I believe it is highly likely. I have an ARM loan for 7 years.
Per US News, 3/1/24 “Mortgage rates are expected to decline later this year as the U.S. economy weakens, inflation slows and the Federal Reserve cuts interest rates. The 30-year fixed mortgage rate is expected to fall to the low-6% range through the end of 2024, dipping into high-5% territory by early 2025.” Read the full story: US News Mortgage Rate Forecast
Or, maybe you want to check Forbes: “Mortgage Rates Forecast For 2024: Experts Predict How Much Rates Will Drop” Read the full story and many more forecasts: Forbes Mortgage Interest Rates Forecast
So, what do you do about it when purchasing a home?
Solution: get an ARM (Adjustable Rate Mortgage) for the next 1-3 years, then refinance to a lower rate and longer-term loan.
To the get the BEST ARM loan programs and rates, call Dan the Man at 714-310-4162.
Rave review on Facebook:
“I could not have gotten my loan without Dan the Man for Mortgages. I had tried and failed because the property was in probate. Dan not only found me a loan but it was 4% lower than the ones I was being quoted. He also walked me through the paperwork and continued to help and monitor the progress. Thank you again, Dan!” -Riley O.