August 29, 2019

Well it seems to be the perfect storm… Home values are up, rates are at rock bottom and the unemployment rate is low! In early 2019 we thought 3%s on a 30yr loan were long gone, however the one constant in the financial markets is volatility. In this case it’s presented a great opportunity to refinance for many reasons!

Here are a handful of common refinance motivations, and how we’d determine if there’s actual benefit to a refinance:
-Remove mortgage insurance – When will it fall of naturally? Do the savings justify the costs?
-Reduce your rate – Would you see benefit within a year? What are some strategies to accelerate the cost recovery period?
-Reduce your term – Would you see benefit within a year? What are some strategies to accelerate the cost recovery period?
-Pull cash-out to pay off high interest debt – What’s the interest rate of the debt? Can we reduce the term of your mortgage, payoff debt and keep you payments similar while saving you interest?
-Pull cash-out to improve your home – Will the improvements offer an increased home value?

To explore options, please start by submitting the form to the right (“Let’s Get Started”).

The chart below gives a summary of rate activity over the past year and a half. As you can see, we’ve seen substantial improvement.

(10yr treasury, 8/29/2019)

If you think you could benefit from a refinance, we’d be happy to help! Our approach is ethical and straight forward, with our focus placed on long and short term benefit for you as our client!


Michael Shotnik

Branch Manager

Sierra Pacific Mortgage


[email protected]

NMLS 218281



Start the application process today!


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Sierra Pacific Mortgage Company, Inc.

Sierra Pacific Mortgage NMLS# 1788. Michael Shotnik NMLS: 218281, CO License: 100017466. Regulated in Colorado by the Division of Real Estate #988320. To check license status of mortgage loan originator, visit D.O.R.A. and NMLS consumer access.