January 15, 2008 Elad Bushari

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!

You may contact Ricardo here

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.

Elad Bushari

Elad Bushari is the Broker / Owner of Bushari Group Real Estate and a National "30 Under 30" Honoree by REALTOR Magazine in 2009.

Comments (2)

  1. Anthony Longo

    YES THEY ARE!!! Refi market is back…prices are down..great time to buy!

  2. Mike

    It might be a great time to buy Anthony, but i don’t think thats good for everyone 😉 That being said, this is all starting to have a knock on effect on the UK market (which itself has ground to a halt!).

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