Why Now Is A Great Time For A Mortgage Refi

Mortgage rates continue to linger near all-time lows and refinance applications are through the roof. With the 30-year fixed rate sitting just above the all-time low rate at 3.52% (the record low being 3.5%) you can see why so many borrowers are taking advantage of these rates.

The end of the July 1st week saw a 21% increase in refinance applications with a 30-year fixed rate at 3.61%. Experts expect to see another surge in refi apps at the new lower rate. If you’re looking to refinance your home, now could be the time to do it. Although no one can give a definitive answer on how long rates will remain this low, you can’t argue that a 30-year fixed rate under 4% is a great deal comparatively.

Make sure to speak with a loan officer or mortgage professional and make the decision that’s best for you!

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