Fixed Mortgage Rates Rise
Recently, fixed-rate mortgage rates moved up slightly higher. According to Freddie Mac, the average interest rate at the end of May/beginning of June was 4.12%. Last week, lenders offered 30-year loans at an average rate of 4.14%. The rise occurred during a week the market’s direction was very unclear. A year ago, the interest rate […]
When to Refinance a Mortgage
Refinancing can cost between 3 – 6% of the total value of a loan. The best time to refinance a mortgage is when the savings are more than prepayment penalties, refinancing costs, and other expenses. 1. To transfer their loan to a lender that charges a lower rate of interest There is a traditional refinancing […]
