When was your last financial checkup?
Getting regular checkups is a great practice. You have your annual physical with your doctor. You get your car’s oil change done regularly. Why not do the same for your personal finances? Interest rates have recently fallen to 3-year lows, so now might be a good time to look at your finances and see how you manage your money.
The recent move in interest rates has given us a nice gift. Based on the August 15, 2019 Primary Mortgage Market Survey from Freddie Mac, the average 30-year fixed mortgage rate is 3.6%. This is down just under one percent from last year’s rate and comes on the heels of 10+ years of economic growth.
We have also seen our home values recover from where they were after the Great Recession of 2008. We find ourselves in somewhat of a perfect storm of low interest rates, stable employment, and available equity in our homes. Now is a great time for you to reassess your goals and make the moves that will help you plan for the future.
Where do you want to be five years from now? Where do you want to be ten years from now? Do you have goals and dreams that you’d like to see happen? Do you have any future expenses that you need to plan for, such as college, weddings, retirement, etc.? Do you have any home improvements that you want to make? Do you want to be able to move into a new home in the future? It’s questions like these that will lay the groundwork for your financial future.
Completing an equity analysis and a debt management plan can help put your plans into reality and head you down the path toward accomplishing your goals. Low interest rates make a nice headline, but it’s what you can actually do with them that’s the fun part!
Nick Schneider and the team at Yosemite Mortgage pride themselves in being able to offer no-cost consultations, allowing you to review your finances and help develop a debt management strategy. Whether you are a homeowner looking to reduce your monthly payments or a first-time home buyer looking to find out how to qualify for your first home, they are here to help.
Nick Schneider is the Branch Manager at Yosemite Mortgage, Individual NMLS#214633
Yosemite Mortgage is a DBA of Sierra Pacific Mortgage, NMLS#1788
Equal Housing Opportunity Lender