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The Bay Area's comprehensive guide to new homes 111 BayAreaNewsGroup Advertising Section Find us online at NewHomeFinder.news ByErikJ.Martin CTWFEATURES Hasitbeenafew yearssinceyou've closedonyourhome? Youmaywanttotake acloserlookatcurrent mortgageinterestrates andyourexistinghome loan.Chancesare strongthatratesmay havedroppedenough sinceyoulastclosed towarrantarefinance ofyourmortgage—a movethatcouldsave youpossiblyhundreds ayearandmanythou- sandsoverthelifeof yourloan. "Withinterestrates hoveringnearhistoric lows,nowisagreat timeforborrowers lookingtorefinance theircurrentmortgage. Lowerratescanresult insignificantlyde- creasingyourmonthly payments,"explains CathyMaloney,vice presidentofmortgage lendingforGuaranteed RateinParsippany, NewJersey. Ponderthat,since thestartof2019,na- tionalaverage30-year mortgagerateshave fallenfromnearly5%to 3%orlower,perFred- dieMac.Atthetimeof thiswriting,theaver- age30-yearfixedrate was2.99%.That'sa tantalizinglylownum- berthatcanmotivate homeownerscurrently withratesinthemid- toupper-3%rangeor highertotakeaction. Ageneralruleof thumbisthatifmort- gageratesarelower thanyourcurrentrate by1%ormore,refi- nancingisafinancial no-brainer;buteven droppingyourrateby 0.25%to0.5%could paydividends. AlbertChavez,a mortgageloanconsul- tantwithSacramento- basedUnitedWholesale Lending,recommends consideringarefiifyou currentlyhaveanin- terestratehigherthan 3.125%anddon'tplan onmovinganytime soon. "Refinancingcould saveyouhundredsof dollarspermonth,"he says."Theaveragesav- ingsI'mseeingforclients Is this the right time to refinance your mortgage? Mortgage Updates Advertisingcontact: Sandy Lek 925-847-2135 slek@bayareanewsgroup.com Editorial contact: Rowan Briggs 925-943-8355 content@bayareanewsgroup.com Bankrate obtains rate information from the 10 largest banks and thrifts in 10 large U.S. markets. Mortgages are gathered based on 700 FICO with 80% LTV and between 30-60 lock days. This is an average of all points but the information we gather includes no more than 2 points. 30-YEAR FIXED 3.13 % 5/1 ADJUSTABLE RATE 3.33 % 15-YEAR FIXED 2.43 % For more information on this New Homes section that publishes every weekend, please contact: See all Transactions in Sunday paper See the New Home Finder pages SeePage 4 See RIGHT TIME Pg 2 ContactSandyLek at slek@bayareanewsgroup.com for more information on how Bay Area News Group can help you advertise in digital and print. "I'vebeennonstop sincemarketingbegan..." "BayAreaNewsGroupwasextremelyhelpfuleverystepofthe way–creatinganeffectivead,advertorial,digitalcreationand placement.Wereceivedhigh-quality,high-caliberexposure andI'vebeennonstopsincemarketingbegan,settingupmany appointmentsthroughouttheBayArealikeneverbefore– EastBay,SouthBayandMarin!Manyhavemadeappointments toviewourConcordADUandenjoyedseeingtheADUinperson." Thank you for sharing your success Katherine Noe Anderson of Perpetual Homes. ~ Perpetual Homes