As mortgage interest rates continue to drop to record lows, many homeowners are wondering: Should they refinance their mortgage right now?
Timing a refi is always tricky, but the time may indeed seem ripe for one, since according to Freddie Mac’s most recent Primary Mortgage Market Survey released Aug. 22, the average 30-year fixed interest rates have fallen to 3.55%—the lowest rate in nearly three years.
“Now can be a great time to refinance for many Americans who currently have a mortgage rate above 3.5%,” Sam Khater, chief economist at Freddie Mac, told realtor.com.
Source: https://www.realtor.com/news/trends/interest-rates-drop-should-you-refinance-right-now/
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