Victor Asks…. How will the current government debt plan decisions affect mortgages and rates?

The details of the plan have not been worked out at the time of this writing but it is safe to say we WILL be affected! In the best case scenario, the plan will allow for simplifying the tax code and making it easier for businesses and individuals, but many things are on the chopping block in the budget – one of them being mortgage interest deductions. If that goes away homeowners will feel it in their pocketbooks!

So, rates will most likely fluctuate and I think rise slightly. Anyone that currently has an ARM or a HELOC will see movement in their payments. Being proactive is the best scenario right now – locking in if you are thinking of refinancing or purchasing a home would be a really good idea!

Meet Cheryl!

About Cheryl

As a successful business owner and community leader, Cheryl Braunschweiger is known and respected for getting things done with a degree of skill and enthusiasm that bring out the best in those around her - colleagues, clients and friends. The name of her business, ALMC Mortgage, reflects Cheryl's philosophy and personality. She says it stands for All Loans Must Close –a reflection of her determination to do whatever it takes to serve her clients. Cheryl has been in the mortgage lending business for 20 years. Read More About Cheryl
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