Mortgage Rates Are at 3-Year Lows
Posted by The Cobb Group on
Here Are 5 Questions to Ask Yourself Before You Refinance
Mortgage rates are resting near record lows — and that’s spurring a wave of refinancing activity as Americans look to take advantage of the savings a cheaper interest rate could bring.
Refinance loan volume jumped to the highest level since 2013 last week, especially among jumbo mortgage borrowers, on the heels of lower mortgage rates, according to data from the Mortgage Bankers Association. The average interest rate for a 30-year fixed-rate mortgage fell to 3.45% last week, Freddie Mac reported, the lowest level since October 2016.
More than 11 million homeowners stand save to an average of $268 per month on their mortgages if they were to refinance at today’s…
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