Could it be that this New Year is just the right time for you to re-fi?  Palm State Mortgage Company has indeed been surprised that many people have not taken advantage of today’s amazingly low-interest rates.

In this week’s blog, we want to encourage you to investigate the fine possibility of refinancing your home at a lower rate.Happy couple plans refinance loan for security.

Did you know that over 5 million borrowers could qualify and benefit from refinancing their mortgages?

Could it be that many rush through their daily routines, too busy to investigate this golden opportunity?

Are you so focused on the day-to-day dollars that you have lost sight of the big picture of your financial planning for the next l, 5 or 10 years?

We don’t blame you.  Life is full of daily challenges in the 21st century, but we are here to help you see financial opportunities that might not exist in the next l, 5 or 10 years.

According to a new report from Black Knight Financial Services, today’s 5 million borrowers mentioned above is an improvement statistically over the 7 million folks who could have done their refinancing last spring.

Let’s boil these million dollar figures down to the family budget.  According to recent reports, at least, “2.4 million borrowers could potentially save $200 or more on their monthly mortgage payments,” through refinancing.  Experts add that an “additional 1.9 million people could save $100 to $200 per month.”

Refinance Now To Lock In Your Rate!

This is one of the reasons borrowers should become aware they should act now to secure refinancing, since mortgage rates will surely rise in the months to come.

An improving economy and the growth of job opportunities will undoubtedly push those rates up.

There has also been a healthy rise in home values that has brought, “millions of borrowers back above water on their home loans, allowing them to qualify for a refinance.”  Likewise, if you have loans backed by Fannie Mae, Freddie Mac or the FHA, you could qualify for a government refinance program named HARP.  Do not give up without research because “There are about 430,000 borrowers who could still benefit from HARP.”

Refinance Capability and the Power of Equity

Borrowers in California, Texas and Florida have quite a bit of tappable home equity today, as a result of rising home values.  This refers to money you could take out of your home in the form of a line of credit, often called a HELOC loan.  The popularity of such loans is on the rise again, up 35 percent in 2015 over 2014.

Rising home values have also given borrowers more “tappable” home equity — that is, money they could take out in the form of a home equity line of credit (HELOC). It is amazing to note that “37 million borrowers could pull out an average $112,000 before hitting the amount of equity most banks require them to keep in the home.”

Refinance Wisdom:  Using Equity Wisely

Ten years ago we would see people refinance or take out HELOCs to invest in luxury vacations, cars and vacation property.

Nowadays, Palm State Refinance with Palm State. Mortgage Company sees a more cautious approach.  Homeowners who are taking out their equity are using it to pay down debt or to remodel and improve their property, which adds value to their investment.

So, if you have not been considering refinancing your home, this is a remarkably, almost a historically, good time to do so.

It isn’t as difficult as you might think to gather up the necessary financial information for refinancing your home, and Palm State Mortgage Company will be with you through every step of the process.

As we have said on numerous occasions, we will find you the best lender to fit your financial situation.  Soon you can be enjoying the benefits of a better financial situation with your rates locked in at today’s remarkable numbers.  You’ll be glad you invested a little time and effort.