Super-Low Mortgage Rates Mean A Great Time To Refinance
Interest rates are at historic lows but home values are stable, creating a rare opportunity to refinance mortgages.
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Flag of USA on a silhouette of the the country with faded grunge effect isolated on white background.Governor Brian Kemp of Georgia has been talking with several governors in the South about a state compact to open back up. He was under extraordinary pressure to shut the state down. He delayed doing so until modeling showed Georgia would exceed hospital space.
Once the modeling shifted, he acted. The result? The modeling had shown Georgia would peak on April 24th then on May 1st. Now, it looks like Georgia crossed its peak on April 7th. The data seems to have been thrown off due to a one day surge in deaths, but those deaths have declined.
Georgia is ready for a slow-rolling reopening in conjunction with Tennessee, South Carolina, Florida, Alabama, and Mississippi. (Am I the only one who has to say out loud M-I-SS-I-SS-I-PP-I when spelling that state?)
Florida too has reopened some beaches and is ready to get back to work. That’s good, but it comes with the media savaging both states. Notably, some members of the press were showing pictures of beaches in California when talking about the beaches in Jacksonville, Florida. It is worth noting that despite the crowds, families were staying at distance from each other and limiting crowd sizes. But why report that when you can be outraged?
You know, I have been vocally in the camp that we must shelter-in-place to contain the virus. It worked. But I just don’t understand the people who think we have to stay cowering in our homes for a year until a vaccine is developed. We can’t. I would also note that most of those who suggest we have to do this are in no danger of economic disruption.
We had to do this. Every country on earth did it except Sweden and the news there isn’t great. Every country responded the same way and I presume the world’s leaders and their experts have more information than you and me. I’ll give them the benefit of the doubt. But it is absurd to think we can do it much longer.
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Interest rates are at historic lows but home values are stable, creating a rare opportunity to refinance mortgages.
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