Great informative video. No sales pitch. These are just straight facts. In my opinion, if you can wait another 3-6 months for rates to drop, you can seriously consider a refi if your current rate is close to 6.5-7.0%
you are right... I think rates will continue going down next year. Some people will get such a benefit that it makes sense to take a few chips off the table now, or consolidate other debt to give relief. then, being open to refinancing again 6-18 months from now is not a bad strategy... especially with our lender free refinance!
Right now we were told if we lock now our mortgage rate will be at 6.125 and we are not sure if we should get locked for this rate or wait until the next Fed meeting in November. Any advice on that Nicole?
Nicole, I have been watching your videos for over a year .. I am working with Eric with the Rueth team...hoping to close in Oct with a fantastic rate with you .. cheers G
I’m in Dallas texas. We are about to close on a home using a FHA loan. We are locked in at 6.758%. They say it’s that way because of our credit which is really good and also we are using FHA. I figured that’s as low as it’s gonna get for right now. Some may think it’s dumb. But we will be in a home and in a few years we can refinance. What do you think about that Nicole?
@@bosstalksports4916 for an fha loan that seems a little high. But it’s hard to say as I don’t know your personal specifics. If you want to go thru your options I’m happy to help! Then we can do a streamline refi in 6 months. Call me at (303) 808-2300
Mortgages are local, FHA should be much lower then 30 year average. The average September 22, 2024 FHA mortgage rate is ~5.38% (with higher APR because of built in $$$ with closing loan and Mortgage Insurance).
Good Morning! Since so much depends on your personal financial profile and what program you are using, it's hard to say exactly what "your rate" should be. Having said that, FHA rates are lower typically than conventional and you can refi in as little as 6 months. Let's talk... no pressure, all strategy! Give me a ring at 303-808-2300
Im so dman confused with all this being the first person in my family to own a home. im 11 years in at 3.375 rate but was thinking about squeezing some cash out to get somethings fixed ( like new hvac) but man this stuff is scary since i know i have a great rate compared to whats going on these days
Hi Ben, I'm happy to jump on a call today. you do have a great rate! I would look at how much you want to pull out vs how much your current loan is and determine your blended rate. Then its a conversation of what you are trying to achieve and the best path to get you there. Call me on my cell: 303-808-2300
You have a great rate! You could have refinanced during 2020-2021…but given your 15 years into your loan you are chopping away at principal at this point. You might want to look at a 15 year fixed. Let me know if you want to review numbers so you know when the right time is (if ever) to refinance.
@TheRuethTeam I filed for disability in October of 2018 had to wait 4 years to get it..I could have got 3.5% during that time of waiting it was a tough 4 years.
@@akirx765 at 7.25% now, you could drop to low 6's then rei again in 6's months to take advantage of the opportunity to save hundreds every month and/or even consolidate other high interest rate debt. Using strategy and our lender free refi, puts you in the drivers seat vs waiting for the market to do something.
Everyone needs to stop focusing on rates! Home prices are still way to high so your going to overpay by 100K or more regardless of interest rates. If people will be patient and stay out of the market, home prices will be forced down along with the rates.
home prices are not going to come down. This isn't 2008 where saw rates fall due to overbuilding of spec homes, overexposure of lending risk and high level of foreclosures. This market has extremely secure homeowners with record equity with no need to sell and plenty of room to do so if needed. waiting might bring lower rates, it will not bring lower prices.
@@TheRuethTeam You are 100% wrong! There are different circumstances for sure but that will not prevent the next crash. Two major factors that will impact the housing market are a collapse in the short term rental market and a major economic downturn resulting is mass layoffs. Once people start dumping rental properties inventories will skyrocket and prices will fall. I'm forecasting a 10 to 25% correction in home prices. People laughed at me in 2006 when I said the same thing and here we are again. Numbers and analytics don't lie, home prices cannot continue to go up unless wages rise sharply and I don't see that happening.
@@N1ghtztalk3r that's not reasonable. People will keep buying as their life circumstances change. Of course we are all seeing buyers becoming more discerning.. and I think that's great. but a good home will always have a market.
@@MaxHavoc69 home prices can level out and even become flat.. but a 10-25% drop? and how can you say I am 100% wrong. How is anyone 100% right/wrong in a debate of future forecasting? short term rentals are simply converting to long term or selling with equity in hand. we have a record breaking 72.7% equity in our homes. nothing has to go on fire sale but wait for the right buyer. Now some markets and some product types (like condos) will struggle more than others. Our unemployment is staying at record lows at 4.2%, ADP jobs numbers just surprised to the upside, initial jobless claims hit a 4-mo low. Mass layoffs, while possible is an improbability. More likely is a soft landing bringing some layoffs and a slowing economy which will bring lower interest rates, which will provide more access. Home values, even if they drop slightly will remain strong.
You Rocked this 🙂 so much info in a clear and concise manner; much Thanks 🙂🙂🙂
Glad it was helpful!
Great info. I appreciate the straight facts without the clickbait!!
@@hannahlabyrinth1945 Thank you! My goal is always to educate. Homeownership, when it’s the right time is game changing!
Great informative video. No sales pitch. These are just straight facts. In my opinion, if you can wait another 3-6 months for rates to drop, you can seriously consider a refi if your current rate is close to 6.5-7.0%
you are right... I think rates will continue going down next year. Some people will get such a benefit that it makes sense to take a few chips off the table now, or consolidate other debt to give relief. then, being open to refinancing again 6-18 months from now is not a bad strategy... especially with our lender free refinance!
Just closed on a loan that was 5.625 no points I’m in Virginia
Good content
That's awesome!!!
15 year term?
Right now we were told if we lock now our mortgage rate will be at 6.125 and we are not sure if we should get locked for this rate or wait until the next Fed meeting in November. Any advice on that Nicole?
If that rate works for you and your budget, I would lock. Depends on when you close and your risk tolerance
Nicole, I have been watching your videos for over a year .. I am working with Eric with the Rueth team...hoping to close in Oct with a fantastic rate with you .. cheers G
LOVE THIS!!! So appreciate you adn cheering you on!
I’m in Dallas texas. We are about to close on a home using a FHA loan. We are locked in at 6.758%. They say it’s that way because of our credit which is really good and also we are using FHA. I figured that’s as low as it’s gonna get for right now. Some may think it’s dumb. But we will be in a home and in a few years we can refinance. What do you think about that Nicole?
@@bosstalksports4916 for an fha loan that seems a little high. But it’s hard to say as I don’t know your personal specifics. If you want to go thru your options I’m happy to help! Then we can do a streamline refi in 6 months. Call me at (303) 808-2300
Mortgages are local, FHA should be much lower then 30 year average. The average September 22, 2024 FHA mortgage rate is ~5.38% (with higher APR because of built in $$$ with closing loan and Mortgage Insurance).
@@markcooper6648 the loan officer said we can refinance after 3 years because of the type of loan we have. So are you saying we got ripped off?
Good Morning! Since so much depends on your personal financial profile and what program you are using, it's hard to say exactly what "your rate" should be. Having said that, FHA rates are lower typically than conventional and you can refi in as little as 6 months. Let's talk... no pressure, all strategy! Give me a ring at 303-808-2300
Great informative vid, Nicole. Thanks!!!!
Thank you, and it's my pleasure!
mine is 5.2 fixed bought my home Nov of 2022.
Still a strong rate! Look at rates again next Fall.
Great video!
Thank you!
Im so dman confused with all this being the first person in my family to own a home. im 11 years in at 3.375 rate but was thinking about squeezing some cash out to get somethings fixed ( like new hvac) but man this stuff is scary since i know i have a great rate compared to whats going on these days
Hi Ben, I'm happy to jump on a call today. you do have a great rate! I would look at how much you want to pull out vs how much your current loan is and determine your blended rate. Then its a conversation of what you are trying to achieve and the best path to get you there. Call me on my cell: 303-808-2300
I have a 5.25% rate since 2009...when and what rate would it be good for me to refinance?????
You have a great rate! You could have refinanced during 2020-2021…but given your 15 years into your loan you are chopping away at principal at this point. You might want to look at a 15 year fixed. Let me know if you want to review numbers so you know when the right time is (if ever) to refinance.
@TheRuethTeam I filed for disability in October of 2018 had to wait 4 years to get it..I could have got 3.5% during that time of waiting it was a tough 4 years.
Locked in at 5.65
awesome!
that's great. what bank did you use? is it 15 years fixed?
Might refi. Currently rate is 6.75. Or I might hold off. Meeting with a loan officer on Monday
im at 7.25, I think it will go in the 5ish before end of the year.
Let me know how it goes. I'm happy to give you a 2nd opinion and give you only the facts... much like you see in my videos.
@@akirx765 at 7.25% now, you could drop to low 6's then rei again in 6's months to take advantage of the opportunity to save hundreds every month and/or even consolidate other high interest rate debt. Using strategy and our lender free refi, puts you in the drivers seat vs waiting for the market to do something.
Rates will be mid to high 4's in the next 18 months.
I love that idea, but the economy would have to be pretty weak for that to happen. Outside of 2012/2013 and 2021, rates have never been that low.
💯% in the 4's
@@ebutuoy5088 there are many buyers who would love that! I think 5’s are more realistic and healthy for the market. But I get it!
@@TheRuethTeam we'll see at least 4.9 even if its briefly.
Nobody is buying crap until the prices get back to normal. If you buy now you are stupid.
@@UrquidezFamily it’s unfortunate you think so as prices are continuing to go up.
Everyone needs to stop focusing on rates! Home prices are still way to high so your going to overpay by 100K or more regardless of interest rates. If people will be patient and stay out of the market, home prices will be forced down along with the rates.
home prices are not going to come down. This isn't 2008 where saw rates fall due to overbuilding of spec homes, overexposure of lending risk and high level of foreclosures. This market has extremely secure homeowners with record equity with no need to sell and plenty of room to do so if needed. waiting might bring lower rates, it will not bring lower prices.
@@TheRuethTeam You are 100% wrong! There are different circumstances for sure but that will not prevent the next crash. Two major factors that will impact the housing market are a collapse in the short term rental market and a major economic downturn resulting is mass layoffs. Once people start dumping rental properties inventories will skyrocket and prices will fall. I'm forecasting a 10 to 25% correction in home prices. People laughed at me in 2006 when I said the same thing and here we are again. Numbers and analytics don't lie, home prices cannot continue to go up unless wages rise sharply and I don't see that happening.
They will come down if we all stopped buying for a couple of years! Stack up, let prices come down then attack!!
@@N1ghtztalk3r that's not reasonable. People will keep buying as their life circumstances change. Of course we are all seeing buyers becoming more discerning.. and I think that's great. but a good home will always have a market.
@@MaxHavoc69 home prices can level out and even become flat.. but a 10-25% drop? and how can you say I am 100% wrong. How is anyone 100% right/wrong in a debate of future forecasting? short term rentals are simply converting to long term or selling with equity in hand. we have a record breaking 72.7% equity in our homes. nothing has to go on fire sale but wait for the right buyer. Now some markets and some product types (like condos) will struggle more than others. Our unemployment is staying at record lows at 4.2%, ADP jobs numbers just surprised to the upside, initial jobless claims hit a 4-mo low. Mass layoffs, while possible is an improbability. More likely is a soft landing bringing some layoffs and a slowing economy which will bring lower interest rates, which will provide more access. Home values, even if they drop slightly will remain strong.