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As Interest Rates Plummet, Should You Refinance Right Now?

by Deborah Fowler on September 9, 2019
As Interest Rates Plummet, Should You Refinance Right Now?

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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