The mortgage and real estate industry in a strange period of flux. The value of real estate is at all time lows, making it a volatile time to purchase a home or sell. Because it is not a "burgeon" period, it is difficult to say or give recommendations on what to do. However, the good news is the real estate area is engaged in one great period - mortgage rates.

Mortgage rates show was the interest will be on a home loan. This could be a refinance or new home purchase. Because of the market, though, refinance loans are in the highest demand. A refinance is when you get cash back out of your loan because of the need for more money, or otherwise, to reinvest that money at a lower interest rate. This makes sense to do lots of times because your current interest rate could be much higher. Getting a refinance allows you to readjust that cash to a lower interest rate, or simply take it out at whatever the rate is at a current time.

Rates are at all time lows because of current bank and economic conditions. The small conditional changes vary in terms of reasoning, but the main fact remains that a refinance is generally a good idea if you have a loan, because you can save money on your current one by reinvesting. The only time it doesn't make sense to refinance is if your current interest rate is ABOVE what you are currently getting on your loan. Because the trend line for interest rates are going down and diagonally right, you can see how now is a pretty good time to see how it matches up with your interest rate on a home. Go here to find VA Loan Rates, and here to find other mortgage refinance rates.

It also means if you feel confident that the market will rebound, you can also get a home at low cost. But that requires a sophistication and it's not something I can recommend in stone in this post. But if it makes sense for you, go for it! A new home is part of the "American dream", and if everything lines up right, it could make sense for you.

Author's Bio: 

Ross Markam is a passionate real estate investor and market watcher. He hasn't bought a new home, yet, but has a close eye on the market to determine the right time to buy.