Are you looking to refinance or buy a house?

If so, the time to do either is now! The mortgage interest rates have not been this low since the end of 2012 when the thirty-year fixed-rate was around 3.31%. The current 30-year fixed-rate mortgage is around 3.25%. If you are one of the many people considering refinancing at this time, but you think the rates may get even lower, do not count on it. Act now because it is not guaranteed that the rates will continue to decrease. Additionally, lenders can only process a certain amount of loans at any given time, and lenders may soon hit their max capacity to process such loan applications due to staff sizes. Some lenders may hire additional employees to help process the influx of refinance applications, while others may not since the workload will eventually return to normal and any additional staff will no longer be needed.

It is also a great time to buy a house because of the low mortgage interest rates. There is one caveat, though – there are not a lot of houses on the market. The average number of houses on the market is much lower than typical for this time of year. So, while you may get a low mortgage rate, you will likely face competition while trying to buy a house. Be prepared to bid on several houses before an offer gets accepted. And if you think waiting until summer is a better course of action, there may be even fewer houses available and the mortgage interest rate may increase by then.

Why have the mortgage rates dropped? Likely due to the coronavirus and investors shifting their investments from stocks to bonds. Once the virus is contained and the uncertainty dwindles, the mortgage rates will likely increase and go back to the norm. So, if you are debating about refinancing your house, the time to do it is now, and if you want to buy a house within the next several months, start the bidding process now. 

Save money on your title costs. Let us give you a free quote so you can compare and save. Call (717) 697-4700 today!


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A small token of appreciation to our healthcare heroes. ABC27 News Link   A sincere thank you for your sacrifice and service in helping others and in making a difference every day in our community. 

Walters & Galloway, PLLC

With our two offices located in Mechanicsburg, Walters & Galloway, PLLC is able to serve the legal needs of our clients throughout South Central Pennsylvania.  Walters & Galloway, PLLC devotes a significant part of that practice to Estate Planning, Estate Administration, Elder Law and Real Estate Law.  We are able to serve your legal needs from selling, purchasing or refinancing your home; to preparing a will, trust, power of attorney, or living will; to administering the Estate of a loved one.  The practice also includes representing clients in civil litigation, family law, criminal defense, and in handling general business matters.

Our eight attorney firm prides itself in personally handling the matter you have entrusted to us.  

We feel confident that we will competently, effectively, and professionally represent you.

Important COVID-19 Update - May 23, 2020

The offices of Walters & Galloway will reopen on Tuesday, May 26 for appointment only meetings. Due to COVID-19 precautions, no walk-in guests will be permitted until further notice. All visitors MUST wear a mask. No one will be admitted in without a mask.

We continue to conduct business via telework operations, providing services for our clients primarily through phone, email, and video conferences. Please call us at (717) 697-4700 during normal business hours (8:30am to 5pm, Monday to Friday).