Mortgage Bankers Association
To refinance or not to refinance, for many homeowners these days, that’s the question. The interest on a 30-year fixed rate mortgage is now averaging 3.87 percent. So does it make sense to refinance? Or if you already have refinanced does it make sense to do it again?
If you’re looking to lower your monthly house payments, now might just be the time to act as mortgage rates have fallen again. 3 On Your Side Consumer Reporter Jim Donovan finds this is fueling a boom in refinancing.