Did Rates Just Go Up?

There’s so much going on in the news - an upcoming election, COVID-19, and mortgage interest rates fluctuating near-historic low levels. With so much noise, you may be wondering: What’s the latest news on rates?


Rates are going up! The FHFA (Federal Housing Finance Agency) is responsible for regulating the mortgage industry, and they just re-imposed a controversial refinance tax. The added tax/fee will raise mortgage rates across the board through most lenders, Prospect Home Finance included.


After spending months at ALL-TIME low levels, the mortgage industry is adapting to some big financial changes.




What are your options now?


For rates, you can always check them 24/7 at: ProspectQuote.com - it shows closing costs down to the penny, so you'll know the exact loan scenarios available. Rates may not be at all-time lows, but they’re still fairly close, and sub-3% rates may not be available in the near future! It was a feat of market movement that they ever dipped sub-3% to begin with... 


This means: Don’t wait! The coming weeks will likely continue raising lenders’ rates, and starting a home finance application now will lock rates where they are. Apply with Prospect Home Finance for <18 day="" turn="" times:="" a="" href="https://jasonvondrak.floify.com" data-mce-href="https://jasonvondrak.floify.com">JasonVondrak.floify.com.


Give us a ring this week or next at 858-605-0952. Thanks very much!


Jason Vondrak


Prospect Home Finance

875 Garnet Avenue

San Diego, CA 92109

NMLS: 349089 | BRE: 01837707

Jason Vondrak has been in the mortgage industry since 2004 and co-founded the mortgage brokerage Prospect Home Finance in 2006 in San Diego, California. Today he serves as President and CEO of Prospect Home Finance and the president and founder of Prospect Property Group, a real estate development company, established in 2012.


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