With 2020 being a year of many twists and turns one of the industries that has fared well during this pandemic are home mortgage companies. Whether you are seeking to purchase a new home or to refinance, now might be a great opportunity for you. With record low interest rates and record amounts of loans being disbursed, it’s definitely something to consider.
The current state of the economy has made families and homeowners seek to ways to save money anyway they can. Some families are refinancing which is allowing them to get a lower rate plus getting FHA mortgage insurance off their loan. This now let’s them save $100’s each month. During the month of July alone there was a 25 percent increase in home sales. Therefore, if you’re a homeowner and someone that is affected by this pandemic, looking into your options to sell and possibly move to a more rural location or looking into refinancing might also be worth it.