Michael Shotnik
Branch Manager
READ BIO
FROM OUR BLOG
April 24, 2018

Interest Rates Climbing

You may have heard that the Fed is planning to increase interest rates. The plan as we know it is that there will be three increases in 2018 and a potential for 2-3 increase in 2019. Furthermore, the Federal Reserve’s March meeting minutes alluded to a more aggressive pace in the next few years. Additionally, as the economy continues to get stronger, the need to increase rates will be crucial in order to keep up.

 

Next Steps

What does this mean for the homeowner or the renter who’s looking to own? There’s no time like the present. If you’re an existing homeowner, you may want to look into refinancing before the rates increase. Maybe you want to make updates to your house. We have the 203(k) program that applies to refinancing, as well.

Are you trying to buy a home? If so, what’s delaying you? Is it working on getting your credit in order? Maybe you would still get approved. Think you can’t get approved without a 20% down payment?  We have options that don’t require a 20% down payment. Whatever the obstacle is, we can help. We have many products available can help you make a plan toward your next home.  And while we know that the inventory in the Denver Metro area is tight, we’ll help you compete like cash.

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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.