Mortgage Rates Continue to Move Up so Now Is the Time to Act
Gaithersburg, MD -- (SBWIRE) -- 08/05/2013 -- Home buyers and those looking to refinance their current home need to do so quickly as mortgage rates continue to tick up. According to the Washington Post, the 30-year fixed-rate average for home mortgages moved from 4.31 percent to 4.39 percent as of August 1, 2013. "Anyone wishing to purchase a home needs to do so now to take advantage of these rates as mortgage lenders in Washington DC expect the rates to continue moving up," Alex Echeandia of Eagle Creek Mortgage states.
Those looking to obtain a home frequently confuse mortgage brokers and mortgage lenders in Maryland, Virginia and other locations. A mortgage lender offers in-house loan products and handles all functions related to a loan. A broker in contrast, such as Mortgages DMV, matches clients to loans which work best for their particular situation, including those with a credit history which is less than stellar.
The mortgage broker shops the market to obtain the best rate and best terms for the client. "Making use of a mortgage broker saves the client both time and money as they often obtain a better rate and yet don't have to do the work of comparing many loan products to find this rate," Alex Echeandia continues.
Mortgage brokers work with clients looking to obtain a first mortgage, refinance a home or make use of a reverse mortgage to supplement retirement or social security income. Home buyers and those wishing to refinance their current mortgage benefit as lenders have tightened their standards and criteria for obtaining a loan. As a broker works with a number of lenders, bad credit doesn't have to stop the process, even when traditional lenders have turned a client down. "Eagle Creek Mortgage works with non-owner occupied properties, super jumbo loans and more because every customer deserves the best rate possible on their mortgage, no matter what type it is," Alex Echeandia goes on to say.
To ensure customers remain informed on the various options to them, Eagle Creek Mortgage maintains a blog and posts articles on their site, allowing customers to research various offerings before contacting the broker. "Eagle Creek Mortgage understands clients are limited on time and want the mortgage process to be easy in every way. Our goal is to be your mortgage partners for life and we do everything within our power to make this happen, by offering a wide range of products to choose from and simplifying the mortgage process at every step," Alex Echeandia declares.
About Eagle Creek Mortgage
Eagle Creek Mortgage offers assistance to families looking to finance a new residence or refinance a current one, providing free credit-approval to those wishing to obtain a home. Eagle Creek Mortgage offers the lowest fees and superior service, listening to the needs and goals of clients before working to structure the best mortgage possible for each customer. With more than 10 years of experience, the company dedicates itself to earning a customer's business time and time again and monitors mortgages to determine ways to help customers save money or shorten the mortgage repayment term. Good Faith Estimates break down all fees, making product comparisons easy and the estimate typically takes only one day to generate, in most cases.