Thinking about buying a new home in Utah or refinancing your existing home loan - then you are asking "Can I catch the the lowest possible rate and put more cash in my pocket.". Getting the lowest rate possible and locking your interest rate at the bottom is very much like selling a stock at the highest price - almost impossible to do - not many people are successful - especially those who wait. Rates are about as good as they are going to get. Could they go lower? Sure. But rates are so low right now and there are lots and lots of things that could happen to cause them to rise and not so many things that might push them lower.

My advice - start the loan process today (whether on a new home or a refinance). I would say "do it now". The crystal ball and forecasting the future is the same for all of us but as the economy improves and if the situation in Greece every gets settled - rates are sure to go up.

If you are buying, start looking now. The inventory of good houses is down to 6 months in Utah. This might mean that home prices will start to go up soon. Get your pre-approval done and all your paperwork in so you are ready when you find your dream home. When you are buying a new home you need to look more at what that new home means to you and your family than getting the lowest possible rate.

If you are looking to refinance - get started now. Get your paperwork in, your loan approved and float your rate. If rates dip down to where you want them, then lock your rate.

HARP 2.0
If your home is underwater, the new HARP 2.0 refinance program in Utah will be here March 1st. This program might be just what you need to lower your mortgage payment and put an extra couple of hundred bucks into your pocket each month. If you spend some of that money you will be helping to stimulate the economy. Click here to find out more about the HARP 2.0 program.

Today's Best Available Rates in Utah

30 Year Fixed Conventional - 3.875% but with higher closing costs you can get 3.750%
30 Year Fixed FHA/VA - 3.75% with higher closing costs. 3.875% with no origination fee
15 Year Fixed - 3.375%
For More Info on what market factors affect interest rates, check out my Mortgage Commentary.

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I'm Linda Miller, a Smart Loan Lady and Your Preferred Utah Mortgage Advisor

Call me at 801.550.1222

www.UtahMortgageAdvisors.com

NMLS #39250

Affordable Home Loans
Utah's Most Affordable Correspondent Mortgage Lender
7651 Main Street, Suite 214
Midvale, UT 84047