What a home refi can do for you

As mortgage rates remain at historic lows, now might be the time to consider a refinance of your home loan.

According to Bankrate’s weekly national survey, mortgage rates in June 2017 were hovering at the lowest point since mid-November. The benchmark 30-year fixed mortgage rate moved from 4.04 percent down to 4.02 percent. The larger jumbo 30-year fixed rose to 4.00 percent and the average 15-year fixed mortgage rate settled at 3.25 percent.

Homeowners may want to take advantage of the current slow growth economy by refinancing their home. If your credit and income have improved since you took out your original mortgage, you may qualify for a lower rate.

Refinancing your home could potentially lower your mortgage payments, shorten your loan term or even consolidate debt. By reducing your monthly payments, you’ll have the opportunity to use your money elsewhere. You can use the extra cash to fund home improvement projects, pay down debt or expand your financial nest egg.

Don’t let a home refinance intimidate you. At Travis Credit Union, we make home refinancing easy! To learn about your refinance options, stop by local branch, call us at (707) 469-2059 during normal business hours or visit us at www.traviscu.org/refinance.

15-Year Low Rate Lock-in Home Refinance