How to Secure the Lowest Refinance Mortgage Rate: Rate Tracker TOOL

So the Fed finally did it. They finally cut rates and they're signaling they're gonna cut rates and cut rates and cut rates. So now your dilemma is this. Do I refinance now or do I wait? Oh, good dilemma. So we're gonna put that in your hands. Okay, so what are we doing? We're gonna ask you to fill out a rate tracker form for us, if you want, and we're gonna track rates for you. So for example, you might say, Dan, contact me when rates hit 5.99%. So when it does, we're gonna call you, email you and text you to make sure you're aware of the opportunity for a refinance, okay? So why are we doing this now? Well, here's where rates have been. Okay, so last October, that's when we saw rates hit their highest level in decades. There's 8%, you can see that right through here. What are they today? Six and a quarter. So a lot of people were looking to refinance. I just got off the phone with about four major lenders of ours right now and their portfolio was about 85% purchases and the rest of it was refinances. Right now, most companies are at about a 50-50. 50% of people are refinancing and the other 50% of people are buying. So that's why we're doing this analysis right now to help you guys out so you don't miss an opportunity. So let's break down a number for a client that we just worked on. So we closed this borrower last year, okay? It was a $440,000 loan. It was at 8% on a 30-year term. We closed it last October. So that person's payment was $3,229, okay? The refinance process right now is doing this. So they took out a $440,000 loan a year ago. Their current balance is about 439. There's about $2,800 in fees to it. So we add that to the loan. So you're gonna have a new loan at 441,800. With that new rate at six and a quarter, what's the payment gonna be? 227.20, so a savings of $500 a month, 500 bucks a month and over $150,000 in savings over the life of the loan. That's why we're doing this for you guys. So we created this tab. I'm gonna put this down below in the description below so you can get access to this down there and fill out the content. I will be adding it to our website later this week. So go back to our website daily if you want to find it on here. Our website is thereateupdate.com. But there's one con, one big con when it comes to refinancing, it's the fees. So this is one piece of the puzzle that will help you. So the first thing you do when that rate hits your trigger point, we're gonna jump in and see how much it's gonna cost you to refinance. We're gonna reach out to title companies, appraisal companies and a couple other companies involved to see what your specific costs are gonna be. Then we'll shoot you a video back and say, okay, that time is now, the rate hit, you're looking for 5.99, it hit that. And here's what you're looking at most likely in terms of fees. So would you like to take advantage of this opportunity at this time or not? So that's basically what we've put together for you. So my name is Dan Frio. I do YouTube videos every day. So you can go to thereateupdate.com. There's thousands of videos here. So I post at least once, maybe twice a day to give you guys what's going on in the equity markets, as well as real estate. And that's what we really specialize in, in real estate. So my name is Dan Frio. I'm a loan officer licensed in over the entire country. So no matter where you live in the country, I'm licensed as well as Puerto Rico. So if you wanna find out more about me and my team, just visit us at thereateupdate.com and here we are. You can check out, if you're buying that first house, what I want you to do though first is see if there's a grant finder up there, but you're probably watching this video to look for opportunities to refinance. So here's our website. If you'd rather call us to talk to somebody personally, you can scroll down to the bottom of the website and you're gonna find that information right down there. It's 844-775-5626. Or you can email me personally at danatthereateupdate.com. So thanks so much for watching guys. God bless, have a fantastic day and hope to see your name on the registry. Take care, see you soon. Bye-bye.