A Good Way to Save Some Money
July 20, 2010 Leave a Comment
On June 3rd Freddie Mac reported that mortgage rates were at an all time historic low, a sign that investors are seeking safe investments in a turbulent economy. As of today, July 21, 2010, mortgage rates are in the middle 4s. So even though things look like they are at rock bottom now, there is always the possibility that rates could drop further, especially if there is any more bad housing or unemployment news to come in July. If you can lock in at a rate in the mid 4s today you can save yourself a lot of money on your mortgage payment.
While I must admit that in as recently as May, all forecasts were saying rates could not possibly go lower, the market proved us all wrong. Some predictions said it would have taken another major financial catastrophe like the Greek crisis to bring down rates, but no such event took place and we saw rates plunge to new lows.
Why is this important? Many of you may think that you already have a mortgage and there is no way out, or that your rate is “good enough.” If you were to refinance your mortgage at today’s rate and save yourself a full percentage point, a savings that we have seen almost daily, you can save yourself ten of thousands of dollars over the life of your mortgage.
Today is the day to call your mortgage broker to refinance your most prized asset. Then call us to close the refinance. We are knowledgeable and thorough; we have a great real estate paralegal who pays attention to every detail; and we have lawyers who have been closing real estate deals for 37 years.
We look forward to meeting you and saving you money.
H Brian Dumeer
Cloutier & Cassella
29 Elm Street
Old Saybrook, CT 06475
(860) 388-3456 (p)
(860) 388-6374 (f)
bdumeer@celaw.org
