Housing experts say now could be the time to refinance

Local News

The coronavirus pandemic seemingly impacts every aspect of our lives, and that includes our homes.

Right now interest rates on refinancing your home are extremely low and experts say it oculd be an opportune time for you to cash in.

Brooke Keck, a mortgage loan officer at R.I.A. Federal Credit Union in Bettendorf, tells Local 4 News that while everyone sits at home waiting to get back to normal, many are looking at their personal finances a little deeper than usual.

Keck says, “Maybe you’re looking to save on your monthly interest rate. Maybe you’re looking to tap into the equity in your home to consolidate other debts to make things more manageable. Maybe you’ve got a little quarantine fever and you’re looking to improve the home you’re living in. The equity in your home can be used to fit your individual situation.”

Keck goes on to say that this is a flexible situation and interest rates change from day to day, so if you’re interested in refinancing it’s best to speak with a mortgage loan officer to see if now is the right time to take action.

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