Interest rates hit a 2-year low at 5.5% for 30yr-fixed. This is a great opportunity to refinance or lock your rate.
Ricardo Brasil from Wells Fargo Home Mortgage is offering this rate with closing costs or “under 6%” with no closing costs and no points! With that in mind, you will have the option to float down the rate within 30 days, just in case the fed will lower the rate further. Wells will require a $500 lock deposit and will reimburse it to you at closing.
For Example: If you have a loan of $500,000 at 6%, you will save $159 per month; and if your rate is 6.5%, you’ll save $321 per month!
Disclaimer: Rates are subject to your credit score and income and may very from one to another; contact Mortgage Banker ricardo Brasil to get qualified.