Mortgage Refinance Rates on a See Saw
There has been no clear-cut direction for mortgage refinance rates this year. Interest rates seem to be on a “see saw” and any mortgage rates predictions would appear to be fruitless at this point. The overall economic condition both domestic and global is changing dramatically on a weekly basis (sometimes even daily).
So, what do you do if you are searching for a new home loan and want the lowest mortgage refinance rates possible? Simple, lock your interest rate on market dips. Rates have been moving in one-half percentage point cycles all year long and very well may follow that pattern for some time to come. Lock when rates are on the down cycle and you should end up with a historically low refinance rate.