Navigating Home Loans in a Changing Environment

Interest rates have been higher than many homeowners and buyers expected—but the good news is, they’re starting to trend downward. So, what does that mean for you? Whether you’re thinking about buying or considering a refinance, here are some smart steps to take:

1. Understand the Current Landscape

Rates are still elevated compared to historic lows, but recent signs point to gradual decreases. Timing matters, but so does preparation—being ready when the right opportunity comes can save you thousands.

2. Consider a Mortgage Check-Up

If you already own a home, review your current mortgage. Could a refinance lower your payment or shorten your term? Even if rates aren’t at rock bottom yet, locking in a better structure now might make sense for your goals.

3. Explore Flexible Options

Products like adjustable-rate mortgages (ARMs) or hybrid loans can offer lower initial rates, giving you breathing room while waiting for long-term rates to settle. OceanAir FCU can help you weigh the pros and cons.

4. Build a Strategy, Not Just a Loan

Buying or refinancing isn’t just about today’s rate—it’s about your financial future. Think about your timeline, equity, and monthly budget. A personalized plan can help you make confident decisions in an uncertain market.

OceanAir Is Here for You Our team understands the challenges of today’s market and offers solutions tailored to your needs—whether it’s buying your first home, refinancing for savings, or tapping into equity.

Ready to start the conversation?
Visit https://oceanair.org/home-loan-overview/ or call 805-988-2151 ext. 8504 to schedule your mortgage review.