Mortgage Rates Near All-Time Lows To Begin 2021

Mortgage rates have hit all-time lows almost every month since spring 2020 and I still haven’t refinanced yet:

Mortgage rates begin 2021 at a place no one would have believed a year ago

Rates are more than a full percentage point lower than they were at the start of 2020.

My mortgage rate is currently 3.375% but I think I might be able to get a 30-year rate for 2.75% which would drop my mortgage payment by $120/month (or $1,450/year) but the problem is I’m still on my so-called “decennial retirement” (thank you Ms. Money Elite 😬) and unemployed at the moment, so there probably aren’t many lenders willing to give an unemployed jabroni a loan.

I am planning on talking to some lenders this week though to see what my options are when it comes to refinancing my current home (perhaps the wife can do the refinance and take over the loan since she is working) and to get some information or perhaps start the process of looking into purchasing a multi-unit property this year, but again since I’m not working at the moment that might have to be delayed until I go back to work in the spring or summer.

Regardless, when the time comes to purchase a multi-property unit I plan on documenting as best as I can on this website the details and process for buying a multi-unit property in order to educate and help others who might be interested in becoming multi-unit property owners for the first time as well.¹ So lookout for that premium $9.99/month content sometime in 2021. 🤣

1. Note that I do own a condo that I purchased when I first got married that I currently rent out, but I bought that property as a primary residence and not an investment property, which has different lending requirements that I’m not really familiar with.