American Pacific Mortgage

American Pacific Mortgage

Thursday, August 15, 2019

Buy or Refi now or Wait...?

The interest rate outlook is clearing up, and we see no signs of rate increases in the near future. Recession worries are receding, due to low unemployment and a stable economy. However there are many factors affecting the markets that are beyond our borders, to include the tariff wars. So, the bottom line is barring something dramatic on the international front, rates should remain steady through year end. The recent drop of .25% to the Fed rate did not have much effect on mortgage rates and that and future anticipated drops appear to have already been built into current rates.

Since no one can time the market perfectly, I would not recommend waiting any longer if you need to refinance for home improvements, debt consolidation, or just to reduce your current monthly payment.

We have not seen a statistically significant drop in home values, excepting possibly at the higher price points, well over $1 million. So, waiting to make a move may not work in your favor.

For first time homebuyers who are on the fence, studies show that waiting to make a home purchase costs money every month. Postponing a home purchase to wait for the perfect storm will cost more in the long run, in terms of lost equity. Why make the mortgage payment for your landlord vs. for yourself?

Reach out to us by phone or visit our website at for assistance.