The 10-Year Treasury has declined from 3.00% in January to close on August 15, 2019, at 1.529% (MarketWatch.com)
My opinion on what this might mean for our economy is not what this blog is about. You can read about the impact from FIRST TRUST.
THIS IS THE GREAT MORTGAGE OPPORTUNITY
This quick drop in interest rates has opened the doors for anyone that has purchased or refinanced a house in the last few years to refinance.
The Tax Cut & Jobs ACT of 2017 severely limited the mortgage interest deduction.
WHAT ACTION TO TAKE
REFINANCE YOUR HOME MORTAGE
Of course, you need to evaluate the actual impact that it will cause for you and consult with your CPA and Financial Advisor.
The GREATEST OPPORTUNITY I see from this is the ability to refinance your mortgage from 30 years to 15 years AND REDUCE your monthly payment.
This is the example I prepared last night to verify
The question is “Do you want to save almost 20% of your loan amount over the next 10 years?”
Call me or email me your mortgage information and we will assist you in evaluating the opportunity.
We will need:
Mortgage Origination Date
Interest Rate
Original Mortgage Amount
Current Principal and Interest Payment
Email to us michael@tannerycompany.com
Or call – 214-239-4700
Michael Tannery CPA CDFA® AIF® ● CEO
Registered Principal
michael@tannerycompany.com
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