Is Now the Right Time to Refinance? Your Employee Homeownership Benefits Can Help You Decide

Is Now the Right Time to Refinance? Your Employee Homeownership Benefits Can Help You Decide

With mortgage rates trending down again, many homeowners are wondering if now is the perfect time to refinance and reduce their monthly payments. If you’re one of them, the answer isn’t always straightforward. That’s why having the right tools and guidance through your employee homeownership benefits program can make all the difference

Refinancing can offer huge savings over the life of your loan, but timing is key—and it’s about more than just watching interest rates. Your Employee Homeownership Program provides a Free Refinance Analysis to help you evaluate your options and decide if a refi makes sense for your goals. Plus, the Rate Notification Service will alert you when rates hit your target, so you’re ready to lock in savings when the moment is right

Why Refinancing Could Be a Smart Move Right Now 

According to recent trends, mortgage rates have dropped by more than a percentage point compared to last year. Lower rates can mean saving hundreds of dollars each month, depending on your loan size and remaining term. 

But interest rates aren’t the only factor. If you’ve been paying on your current mortgage for a few years, refinancing might also allow you to tap into your home’s equity, shorten your loan term, or switch to a different type of mortgage that better suits your needs.

Pro Tip: If you’re considering refinancing, take advantage of your employee homeownership benefits to get a free refinance analysis. Your benefits advisor will work through all the numbers and help you determine if refinancing is the best move for your unique financial situation. This analysis is designed to save you time and money, giving you peace of mind that you’re making an informed decision.

Real Savings: Why a Free Refinance Analysis Matters 

To show how beneficial a refinance can be, consider one of the employees currently in the process of refinancing. When he reached out, we conducted a detailed refinance analysis and identified an opportunity to lower his rate. The result? He’s on track to save more than $300 a month on his mortgage payment just by locking in a lower interest rate! That’s over $3,600 a year in savings that he can now put toward his other financial goals. 

What If Rates Aren’t Low Enough Yet? 

If today’s rates aren’t quite where you want them to be, that’s okay! It’s smart to be strategic, and our Rate Notification Service can help. We’ll monitor rates for you and notify you the moment they drop to your desired level, so you can lock in the savings before rates bounce back up. This is especially important in a volatile market where a difference of just a few hours can impact your bottom line. 

Pro Tip: With refinancing, timing is everything. Your program’s Rate Notification Service means you’ll be notified when the market shifts in your favor. When rates dip, they can bounce back quickly, so having someone watching out for you is key to maximizing your savings.

Bottom Line: Get the Most Out of Your Refinance 

With rates moving and competition in the market increasing, now could be the ideal time to explore your refinancing options. Your employee homeownership benefits program is here to guide you every step of the way—whether it’s providing a comprehensive refinance analysis, helping you lock in a lower rate, or helping you reduce your closing costs.  

Ready to see if refinancing is the right move for you? Reach out today to schedule your Free Refinance Analysis and start exploring the possibilities. With our guidance and exclusive benefits, you can make a smart financial move that positions you for long-term success. Contact Us to Get Started! 

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The information contained and the opinions expressed in this article are not intended to be construed as investment advice. Advantage Home Plus does not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision.  

What’s Next for Home Prices and Mortgage Rates?

If you’re thinking of making a move this year, there are two housing market factors that are probably on your mind: home prices and mortgage rates. You’re wondering what’s going to happen next. And if it’s worth it to move now, or better to wait it out. The only thing you can really do is make the best decision you can based on the latest information available. So, here’s what experts are saying about both prices and rates.

1. What’s Next for Home Prices?

One reliable place you can turn to for information on home price forecasts is the Home Price Expectations Survey from Fannie Mae – a survey of over one hundred economists, real estate experts, and investment and market strategists.

According to the most recent release, experts are projecting home prices will continue to rise at least through 2028 (see the graph below):

While the percent of appreciation varies year-to-year, this survey says we’ll see prices rise (not fall) for at least the next 5 years, and at a much more normal pace.

What does that mean for your move? If you buy now, your home will likely grow in value and you should gain equity in the years ahead. But, based on these forecasts, if you wait and prices continue to climb, the price of a home will only be higher later on. 

2. When Will Mortgage Rates Come Down?

This is the million-dollar question in the industry. And there’s no easy way to answer it. That’s because there are a number of factors that are contributing to the volatile mortgage rate environment we’re in. Odeta Kushi, Deputy Chief Economist at First American, explains:

“Every month brings a new set of inflation and labor data that can influence the direction of mortgage rates. Ongoing inflation deceleration, a slowing economy and even geopolitical uncertainty can contribute to lower mortgage rates. On the other hand, data that signals upside risk to inflation may result in higher rates.”

What happens next will depend on where each of those factors goes from here. Experts are optimistic rates should still come down later this year, but acknowledge changing economic indicators will continue to have an impact. As a CNET article says:

“Though mortgage rates could still go down later in the year, housing market predictions change regularly in response to economic data, geopolitical events and more.”

So, if you’re ready, willing, and able to afford a home right now, partner with a trusted real estate advisor to weigh your options and decide what’s right for you. 

Bottom Line

Let’s connect to make sure you have the latest information available on home prices and mortgage rate expectations. Together we’ll go over what the experts are saying so you can make an informed decision on your move.

The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. Advantage Home Plus does not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision.