Unexpected Drop In Mortgage Rates Shocks Financial Market Observers Should We Consolidate Higher Interest Debts?

Q: I was surprised when you called me to offer to refinance my 3.375% 30 year fixed mortgage that I have had for just over a year. With inflation picking up steam and employment booming, why are rates getting better? The last few weeks you have warned about rates

moving up….

A: I was as shocked as anyone to see the bond and mortgage-backed security

numbers reverse themselves on Wednesday and Thursday. If this becomes a trend it will buck the Fed statements regarding their intentions to stop buying so many bonds and mortgage securities very soon. I think this move DOWN IN RATES will be short lived BUT IT DOES BRING AN OPPORTUNITY TO LOCK IN LOWER RATES NOW.

In this crazy financial and political climate, it seems that anything can happen and the only certainty we have on interest rates is what we can lock in TODAY or on a DAILY BASIS. Rates are volatile and my advice is to take advantage of them while they are still at historic levels. My advice to anyone with rates over 3.25%, anyone who wants or needs to pull cash out for any reason, anyone buying a new home, anyone seeking lower monthly payments AND ANYONE CURIOUS ABOUT REVERSE MORTGAGES is to call or TEXT me at 831-818-7700 or send email to jchubb1@gmail.com.

Q: Should we pull some cash out to consolidate higher interest consumer debts? The high interest payments are killing us and we are not paying down on the principle amount. We would also like to do some additional repairs and remodeling.

A: MANY CONSUMERS CAN BENEFIT FROM PULLING CASH OUT TO CONSOLIDATE HIGH INTEREST DEBT, PAY OFF LINES OF CREDIT OR HELOCS, OR PULL FUNDS WITH A CASH-OUT REFINANCE TO COMPLETE REPAIRS OR REMODELING. How much sense this will make for you and how to best achieve your individual goals can be easily determined with a quick and short initial conversation. Please call me or text me at

831-818-7700 for the fastest results.

Jim Chubb is a licensed real estate broker and has been the owner/broker of Pacific Inland Financial Inc. Since 1986. He has been on Mortgage

Originator Magazine’s Top 200 list since 2001. Send questions to: Jim at jchubb1@gmail.com.