This is an extraordinary time. The Coronavirus COVID-19 epidemic has changed the world as we know it in so many ways. That includes the mortgage world. At Right By You Mortgage we want you to be well informed and empowered to make financial decisions that are in the best interests of you and your family. We’ve compiled several questions that our customers have asked our leaders below.


  1. Will rates go lower than they are now?
    Rates are quite low right now. However, they are very volatile and are changing by the minute. If you are trying to decide if you should lock in a rate, its best to work  with your lender to determine what is best for your situation.
  2. What happens if the Fed rate goes to zero?
    It’s important to remember that the Fed does not control mortgage rates. Mortgage rates have reached historically low levels and are expected to remain low.The Fed introduced several measures to make more money available for families and businesses. They will inject billions into the bond and mortgage backed securities markets. They will allow banks to loan out monies normally held in required reserves. And they will make even more funds available to banks by extending the time banks can borrow discount funds (the ones with the zero interest rate).The news has had mixed reactions in the markets, which is causing rates to swing quickly and be more volatile than normal. Mortgage rates, however, remain near all-time lows. As always, the Right By You Mortgage team will continue to monitor rates and keep customers updated on industry news.
  3. Is it a good time to refinance my home?
    It may be! Depending on the rate and term of your current mortgage, you may be able to refinance now and save money. We suggest talking with a Right By You Loan Officer to assess your situation and determine if now is a good time to refinance.
  4. How is Coronavirus COVID-19 going to impact the market value of my home?
    It’s difficult to predict what the impact will be to the housing market as a result of this pandemic. Historically, homes in North Carolina and Virginia have sustained value well even during turbulent times.


Remember, that You’re not-a-loan through these challenging times. If you have questions related to your specific situation, please don’t hesitate to contact your local Mortgage Loan Officer