Well if you have a fixed rate at or above 5.125% on a 30 year fixed mortgage then it is at least in your best interest to evaluate your current mortgage. Once you have reviewed what is available to you then perhaps it is in your best interest to proceed with a refinance. This is not something to think about as rates will not stay this low for long. I would hate to see anyone lose the opportunity to save money and especially in today financial environment.
Many people have an adjustable rate mortgage that is tied to the Libor or T-Note and you are enjoying some very low payments at this time. Make no mistake, this is a ticking time bomb that will go up dramatically and the fixed rate will go up with it. It is not a matter if but rather a matter of time! These mortgages remind me of someone at a hot Blackjack table where it seems they can not lose. If they do not get up and leave the table when they are ahead then the house always wins. These adjustable rate mortgages are very similar as you could some day soon be left with nothing. What happens with the Banks stays with the Banks.
Of course I would like to have to contact me to review your mortgage options but if not me, contact some other financial person to review your current situation. Soon it will be tomorrow and it will all be spilt milk when the rates move and you get left behind. No one knows for sure when the rates will go up but history has shown that they will.
For those of you that are concerned with a lack of equity or do not want mortgage insurance if you refinance due to equity concerns there are refinance options that do not have mortgage insurance, even with less than 80% loan to value.
If you would be interested in a free mortgage review I will make it easy for you. Here is a link where you can request a home mortgage evaluation – http://budurl.com/FreeMortgageReview. Emerald Coast Investments will have a licensed Loan Officer respond back to you with you mortgage options with no obligation. In the comment section of the link, tell them that you were referred by the Huntington Beach Mortgage Oracle and they will refund the cost of the appraisal at closing if you do refinance with them.