Mortgage rates haven’t been this attractive in more than a year, good news for homeowners eager to refinance.
Multiple benchmark refinance rates have decreased. Refinancing makes sense if you can get a lower interest rate on your home loan.
Will homeowners see lower mortgage refinance rates this year? Here's what experts are saying.
30-year fixed-rate refinance, 6.18%, (+0.00) ; 15-year fixed-rate refinance, 5.47%, (0.00) ; 10-year fixed refinance, 5.49%, (-0.01)
Mortgage refinance rates dropped significantly last month, but strong economic data is driving them higher again.
Refinancing your mortgage may be a good option if you can score a lower interest rate or you want to change the term of your loan.
Check current mortgage refinance rates and see if refinancing your home is right for you. Mortgage Loan Officers from KeyBank are here to save you money.
Key takeaways ; A cash-out refinance is the process of replacing your existing mortgage with a new one, while a home equity loan is a second mortgage you take out on top of your primary one. ; A home equity loan works well if you have a big ownership stake and need a large, fixed lump sum. ; A cash-out refinance may be the smarter option if you want a lower interest rate and to deal with just one big debt.
Multiple important refinance rates have decreased. If your mortgage rate is 1% higher than today's rate, a refinance might be worth it.
Like mortgage rates, there hasn't been a significant decrease from yesterday's refinance rates. However, rates are still lower. Lock in your refinance rate now!