Author Archives: Kensington Lending

How to Prepare for Mortgage Refinancing

how to prepare for mortgage refinancing

With rates bouncing into near historic lows, it might seem like a great time to look into mortgage refinancing. But with so much still unsettled in the economy and the coronavirus fallout still uncertain, experts expect rates – and processes – to fluctuate for weeks to come.

It’s a combination of factors that has left many lenders with a record number of re-finance applications and a diminished capacity for processing them. Lenders are taking two to three times longer to process loans, according to our mortgage expert.

At the same time, the mortgage secondary market – in which investors purchase packages of closed loans – is showing little interest in packages of loans with very low interest rates during a period of heightened economic risk.

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Protect Your Investment with Kensington Mortgage Brokerage Services

For most people, a house is likely the most important investment they will ever make, in multiple senses of the word. It’s where you put down roots, raise a family, celebrate with the people you love. It can also be a source of wealth building and financial security.

That’s why it’s so important to protect your investment. That might mean making necessary repairs or improvements. It can also mean not paying more than you should for in interest or mortgage fees.

A small change in your mortgage interest rate can cost you tens of thousands of dollars over the life of your loan.

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