It's been a while since my last blog post, I would like to thank everyone for their calls and emails its been a pleasure working with fellow Northporters!!!
The market was on the slow side for the end of August and the first two weeks of September mainly due to people being away on vacation and getting their children geared up for the start of the new school year!
Now that everyone is settled in the market is Booming! Mortgage Applications are up 16.6% in the past week alone. This includes purchases and refinances, FHA's 30 year Fixed mortgage has dropped to 3.250% and a Conventional 30 Year Fixed mortgage is down to 3.50% respectively.
Find out what's happening in Northportfor free with the latest updates from Patch.
A simple rule of the thumb for anyone considering to refinance, if you can lower your interest rate by at least 1% then it is most likely beneficial to refinance. Contact your local banker to see if it makes sense for you.
Also as we approach closer to the election, rates can contiune to come down which has been a trend in the past.
Find out what's happening in Northportfor free with the latest updates from Patch.
Provided by Michael Vassallo (Licensed Mortgage Banker)
For more information 631-806-5569
