Blog Stories How low will interest rates go? Should I buy or refi now?

How low will interest rates go? Should I buy or refi now?

By Brandon Buchanan, March 4, 2020

On the eve of the spring buying season the Federal Reserve decided to cut the interest rate by a half point! This comes after already record low rates for home buyers and those looking to refinance.

While the stock market and other fears has created uncertainty with the overall economy the thought of getting a 3.5% or lower rate on a home loan is definitely spurring hesitant home buyers off the fence these days to take advantage of the lowest interest rates we have seen in quite some time.

Refinancing your current home loan is an option worth looking into for those who are still happy in their home and not planning on moving anytime soon. Most experts say that if you are able to refi into a .75% or lower than your existing rate and you are not planning on moving in the next 4-5 years it may be well worth looking in to.. OR you can run the numbers to see if it makes sense to refi from a 30-yr to a 15-yr mortgage. You may be able to pay close to the same amount each month while saving thousands in interest charges over the life of your loan…

It is always a good idea to shop around and not assume that big banks are the best way to go, also take a look at your local smaller community banks who often offer the best deals…


If you or someone you know would like to chat further about the current rates and the real estate market and what works for you please don’t hesitate to call or email me!


Brandon Buchanan

Principal Broker

As a Portland native and full-time Real Estate Broker since 2006 I have seen the city develop and change so much! I have helped hundreds of families buy and sell homes. I have the experience and local know-how to help you make the best possible decisions. I love the real estate business and find success through open communication, a good sense of humor and being accessible to your needs. There are so many questions to answer – How is the market? When do I buy? Where do I buy? When should I sell? How do I sell? Give me a chance – sit down with me, I’m happy to get to know you better and answer these questions in a way that is tailored to you. There is a home for everyone, and I would be delighted to help you find yours. Prior to my real estate career, I followed my curiosities about life and lived out some amazing memories. From commercial fishing in Alaska, deckhand work at a marina in Florida, to bartending in Aspen, my love of travel and meeting new people has never ceased. These experiences have shaped who I am today; I bring the skills I’ve learned, the ability to connect with people of all backgrounds, and some incredible stories to every transaction. My clients always come first, but if I am not working you could find me coaching my son’s basketball team, golfing, snowboarding, camping, gardening, or somewhere sunny and warm near the beach. Portland, Oregon is a one-of-a-kind place and establishing roots here is one of the greatest privileges. I am truly passionate about this area and once you go on this journey with me, I’m sure you will fall in love and will want to put down roots here, too. I’d love to earn your business, so call me today!
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