Mortgage rates have dropped! What does this mean for you?

Mortgage rates continue to drop! These low rates give current homeowners the chance to refinance into a lower rate, fixed-rate loan, OR homeowners with ARMs can refinance into a fixed-rate product. These kind of rate drops don't happen every day, so if you can refinance and knock a percentage off your loan rate, you will begin to immediately save money!

From a new borrower's perspective, now is a great time to move on buying a house and getting a mortgage loan. For one, unemployment levels are low in our area, and the population in the Midwest continues to grow. That makes the Midwest a very stable place to buy a home. Here's why you should consider buying a home:

• Mortgage rates are at historic lows
• Homes are a solid investment. When you have a mortgage loan, you are gaining equity instead of throwing away rent money every single month
• There is a large selection of affordable homes in this area

If you need any additional information about HCU's rates, or our mortgage products, contact your local branch today!