Time to refinance? Mortgage rates for new purchases and refinancing are below 4%!
I wanted to pass along a quick update to let you know that mortgage interest rates have recently dropped. It could be a great time to buy a home or refinance your current mortgage. The Wall Street Journal offers more information on average rates in the US (contact a mortgage professional to learn more about specific rates in your area).
Unfortunately, the reason behind the declining rates is not exactly positive. Treasury yields are down. As long-term investors, we know we can’t anticipate or control short term moves in the market. But there is nothing wrong with taking advantage of market fluctuations when they coincide with your needs.
Refinancing your mortgage just might be your opportunity to make lemons into lemonade.