The Here and Now, is Here!

The rate is the rate is the rate!

Let’s face it.  To most people the future would be nice to think about, but the reality is, you still have to deal with the Here and Now!  Take mortgage interest rates for instance…Please! (a salute to Henny Youngman)  If you are in a situation where you have to buy a home now, then you will have to work with current rates, no matter what they are.  Lucky for you, there is an upside to that.  Because when rates are higher than you would prefer, that means they are higher for everyone else as well.  Those potential buyers that don’t have to purchase now make you a hot commodity.  You might be lucky enough to be the only bidder on a home that hasn’t had offers for months.  That’s negotiating power!  Now when you buy that home at current rates, then if the rates go down, you can refinance, but if they go up, you received the lowest rate possible at your purchase close of escrow!  Same thing for refinancers.  If you just can’t wait to take some cash out to upgrade your home now, then use the mindset of the purchaser in the before mentioned scenario.  In your case, you had to make the changes, your home is now worth more, and if rates come down, you can refinance to the lower payments for the long term!  If the Here and Now is affecting you in the above situations, call Mitchell Mortgage today!  Michael Mitchell will guide you through your next real estate transaction with speed and honesty!  Call 530-406-2200 or 707-259-1117 land lines or even better, 707-337-5970 Mobile!  Don’t forget the Mitchell Mortgage handles not only conforming loans, but “Reverse Mortgages” for those 62 and over, and also FHA, VA mortgages!  Let’s talk soon!