Lately I have been getting several calls about the 4.5% - 30-year fixed. Right now, no one really knows if this rate will be a reality. However, homeowners who could benefit from a lower interest rate need to know that even if 4.5% becomes a reality from Washington's actions, it would only be available to homebuyers, not homeowners seeking to better their rate. Rates for refinance are simply not as attractive compared to a mortgage purchase . . . and more so if you do not have at least 25% equity in your home. Just this morning I was just notified by one of the lender's that they will no longer allow cash-out without a 25% equity in their property. Some experts predict the mortgage rates will get worse for homeowner’s who want to refinance.

Etta Foote
Mortgage & Construction Loan Specialist
Evofi One
702-293-0563 ho
503-551-2522 cell
702-947-7463 wo