Finance Expert Predicts Pending Shift in Refinance Marketplace for Homeowners Amidst COVID-19 Impact on Interest Rates
Dow drops 2,000 points; Michigan-based Extreme Loans weighs in on the current financial landscape with recommendations on seeking advice in how to best navigate through today's global events
WEST BLOOMFIELD, Mich., March 13, 2020 (Newswire.com) - The Dow is down over 2,000 points as of March 12 and, as reported by CNBC, "mortgage refinance applications have spiked as high as 79%" in response to falling rates over coronavirus concerns. The mortgage bankers at Extreme Loans, with their extensive experience and expertise in mortgage lending, are recommending that borrowers follow suit and leverage the current low rates during this uncertain time. COVID-19 fears are gripping the financial markets, prompting the Fed to respond with record-low interest rates; even further cuts are expected by the end of the month.
"Borrowers are seeing an opportunity to refinance at rates not seen since 2009, which was, in part, to stimulate economic growth following the 2008 Financial Crisis. With interest rates so low, it’s the perfect time for homeowners to refinance their mortgages to save money with lower payments,” said Zack Jabro, mortgage executive at Extreme Loans. “Our team is here for anyone looking to learn more about how to navigate refinancing through this current economic climate. With honest and reliable mortgage bankers, the Extreme Loans team is available to answer clients' questions.”
“There are a number of great programs that homeowners can consider. They include fixed-rate mortgages, adjustable-rate mortgages, VA loans, USDA rural loans and FHA loans, among others,” said Jabro. “We have the foresight to help homeowners navigate the changes taking place in the refinance and purchase marketplace across the country.”
With the Federal Reserve expected to cut rates even further, sooner rather than later, the team at Extreme Loans continues to monitor global mortgage trends - like the current suspension of mortgage payments in Italy in response to the coronavirus - to provide customers the most up-to-date insights into how to gain the most benefit.
“Extreme Loans is there to walk customers through every step of the process and help them navigate through this period of volatility. The Extreme Loans team prides itself on excellent customer service and helping customers achieve their goals,” adds Jabro.
To learn more please visit, ExtremeLoans.com.
About Extreme Loans
Extreme Loans, powered by First Savings Bank, is a mortgage company located in West Bloomfield, Michigan. The company is licensed to do business nationwide and is helping customers with residential refinance and purchases. For more information, visit ExtremeLoans.com.
Contact Information
For inquiries, please contact Extreme Loans at (248) 487-2380.
Source: Extreme Loans
