Yes, it possible. Mortgage rates are at record lows. People are getting them all the time. But you have to apply though a mortgage broker, since these deals are not available through conventional channels.

Loans with a 1.99 percent interest rate have low monthly payments, but those may be offset by very high upfront costs. After all, the average rate for the 30-year fixed mortgage is 3.10 percent, according to Bankrate’s weekly national survey of lenders, and that’s a record low rate.

The 1.99 or less is just not as attainable for most borrowers. You really need to stay at 2.5 or over to stay at decent costs,” she said. “2.99 at 1.666 points is a lot more reasonable.”

Would this be a good time to get a mortgage or a refinance?

Absolutely. Inflation is rampant and at rates we haven’t seen in 20 years or more. Politicians are calling for the FED to do something to slow inflation, and that can only mean higher interest rates.

If you are considering a home load or a refinance, what you really should do is have a meeting with Ruth Schoenherr. Ruth will tell you what is feasible in your situation

Ruth Schoenherr is a mortgage broker who will help you find home loans in the Clearwater, Palm Harbor, Largo, Safety Harbor, St Petersburg and Tampa Bay area. For more information, go to her web site at www.ClearwaterMortgageBroker.net or call at 727 447-2418.