September 2017 Mortgage Rates Average
CURRENT REFINANCE RATES KERN CA
Product Rate Change
● 30 year fixed 3.63% ↑ 0.02
● 15 year fixed 2.99% ↑ 0.07
● 5/1 ARM 3.07% ↑ 0.14
We shall cover some common questions that Kern CA Mortgage borrowers often ask in the article:
Kern CA mortgage borrowers looking for lowest mortgage rates in California will find the article helpful.
The interest rate is one of the tools available to the mortgage borrowers to reduce house payment. When you talk to a Kern CA mortgage expert. He will first try to understand your financial situation and your financial obligations. That is because your mortgage expert is there to help you with your finances and truthfully since the mortgage borrowers have no other way to express their financial need. They only ask the mortgage expert.
What is the lowest mortgage rate that you can offer me? Let’s take an example. During the conversation, the mortgage expert asks the mortgage borrower. Well, it’s been 5 years for you in the house. Your kids are now grown up and they would be in college soon. Do you still see yourself living in this house for next 5 years or do you think you would move out? Most of the times the answer is either we don’t know or sometimes it is. Well, my wife doesn’t like to be in this home so we would be moving out but when is something hard to say.
Well in those cases. Your Kern CA mortgage expert would say. You have excellent scores. Why go for 30 years fixed mortgage because 30 years fixed mortgage is called the psychological barrier by banks. As banks know that it’s the mindset of the borrowers that even if they would refinance or move out of the house in 10 years but they would still ask for 30 years fixed mortgage because it offers them a sense of security that mortgage payment is fixed for next 30 years.
Your mortgage expert might say, look. You go with 30 years and it's .5% higher as compared to 10 years which is .5% less. You don’t know when you would move out of the house but you know for sure that you will one day. In 10 years time, you and your wife and kids would know the answer. It's a matter of choice because .5% less on mortgage saves X amount of dollars every month.
So what you see here is that when it comes to borrowers the obvious question is “what rate can you offer me and I’ll see if I should be working with you?” however the mortgage expert never offers you a rate he offers you a product and savings that suits your need looking at your planning and resources and rate is a mere manifestation of many of the wants of the mortgage borrower.
Since the borrower has no other means to express himself. He always says what rate can you offer me but when you talk to a mortgage expert. It’s an entirely different ball game as he is offering you what you truly need.
Contact Kern CA mortgage expert below to get you the lowest mortgage rate on your refinance.
For more information visit www.affordable-payment.com or call 323-705-3191 if you are a California Mortgage borrower. You can even email at roger@affordable-payment.com
Article by Roger Shanker
