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Getting a better interest rate than what you’re paying now is among the biggest reasons to refinance your mortgage. Find a current rate that’s at least 1 percentage point lower than what you ...
Now say about 15 years into the loan, you’ve paid $86,551 toward the principal and $257,499 in interest and you want to refinance the remaining $233,449 of your principal balance with a new 15 ...
The average 30-year mortgage rate is 6.87% as of the latest data, and many recent home buyers have mortgage rates in the 7%-8% range. So it's fair to say that refinancing is starting to make sense ...
“A lot of homeowners with 7.5 percent to 8 percent mortgage rates now may become serial refinancers if mortgage rates continue to drop over an extended period of time,” says McBride.
After many months of anticipation, interest rates have finally dropped. In September, the Federal Reserve cut its benchmark rate by 50 basis points, lowering it to between 4.75% to 5%, as written ...
In fact, refi applications recently jumped 20% in a week, according to the Mortgage Bankers Association, and accounted for 56% of all mortgage applications. Should you refinance your mortgage now ...
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