Mortgage rates have fallen to a new all-time low on June 12, 2020.
July could set the stage for such another drop, offering new all-time low rates.
Stocks will be pressured to move lower as new coronavirus cases spike in several states and the expected forecast of weaker global growth. Plus most of the big U.S. lenders ? Bank of America, Wells Fargo, Chase, and others ? have been artificially keeping rates high for these past 90 days, especially on refinance transactions. The reason is simply too much demand for refinances these past couple of months and most were under staff to handle their loan volumes. Lenders needed to slow the flow. Plus, new refinance applicants could refinance again in a few months as rates drop. This means banks and investors could lose money on these newly minted loans. Now that these banks and lenders have the staff in place to handle the volumes, they will begin to aggressively lower their rates which will help create mortgage rates to fall to a new all-time low in July.
If you want to be ready to lock in your rates, then best to apply now and submit all the necessary documentation like pay stubs, W2s, and bank statements to your lender. When rates fall to a new all-time low, you will have the chance to lock in your loan since you will already have loan approval. Your loan file will be ready to close faster, and you?ll be ahead of the next wave of the refinancing rush.
You can get a rate quote within minutes with just a few simple steps to start.
Apply online:http://visionquestlending.com/free_quote/
BBB A+
Tony Nguyen | NMLS#93776
Vision Quest Lending | 2860 Michelle Drive, Suite 140, Irvine, CA 92606
Direct 714-464-8042 | 877-318-0992 x6502 | Fax 866-394-9352
Email | tony@vqlending.com
Website | www.visionquestlending.com
July could set the stage for such another drop, offering new all-time low rates.
Stocks will be pressured to move lower as new coronavirus cases spike in several states and the expected forecast of weaker global growth. Plus most of the big U.S. lenders ? Bank of America, Wells Fargo, Chase, and others ? have been artificially keeping rates high for these past 90 days, especially on refinance transactions. The reason is simply too much demand for refinances these past couple of months and most were under staff to handle their loan volumes. Lenders needed to slow the flow. Plus, new refinance applicants could refinance again in a few months as rates drop. This means banks and investors could lose money on these newly minted loans. Now that these banks and lenders have the staff in place to handle the volumes, they will begin to aggressively lower their rates which will help create mortgage rates to fall to a new all-time low in July.
If you want to be ready to lock in your rates, then best to apply now and submit all the necessary documentation like pay stubs, W2s, and bank statements to your lender. When rates fall to a new all-time low, you will have the chance to lock in your loan since you will already have loan approval. Your loan file will be ready to close faster, and you?ll be ahead of the next wave of the refinancing rush.
You can get a rate quote within minutes with just a few simple steps to start.
Apply online:http://visionquestlending.com/free_quote/
BBB A+
Tony Nguyen | NMLS#93776
Vision Quest Lending | 2860 Michelle Drive, Suite 140, Irvine, CA 92606
Direct 714-464-8042 | 877-318-0992 x6502 | Fax 866-394-9352
Email | tony@vqlending.com
Website | www.visionquestlending.com