Steven Mnuchin, US Treasury Secretary, announced in a press conference today the IRS will move to allow a no-penalty, no-interest, 90-day extension for 2019 Federal tax payments. This means those who owe money to the IRS will have until July 15th to submit payment. While a federal payment extension has been announced, it is still a requirement to file returns by April 15th. As of today, no changes for the State of Iowa deadline have been announced.
Mortgage rates dropped to all time lows earlier this month. The average 30-year mortgage rate is 3.36% and the average 15-year mortgage rate is 2.77%, according to the FreddieMac weekly report published March 12, 2020. Refinancing your mortgage may be a good idea, if one or more of the following apply in your situation: the interest rate of your current mortgage is around 4% or higher your mortgage has an adjustable rate you have been paying private mortgage insurance (PMI) and your loan value is less than 80% of your home's appraised value Contact our office today to discuss whether refinancing is a good option for you.