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Last updated on December 26th, 2022 at 09:35 pm
Compared to the same time last week many benchmarks refinance interest rates dropped down today.
- 30-year fixed refinance rate: 3.15%, down by 0.06 basis point a week ago was 3.21% and a month ago was at 3.16%.
- 15-year fixed refinance rate today is at 2.45%, a drop of 0.05 basis points from last week at 2.50%
- A drop of 0.03% basis point in 10-year fixed refinance rate from 2.51 to 2.48%, today.
It is advisable to take advantage of the historic low rates. Mortgage rates are volatile and change on an everyday basis.
Even though they rise and fall they are still floating around 3%.
As the purchase is a little difficult with a low supply of homes in the market borrowers can take advantage of refinance facilities to upgrade their homes.
While refinancing shop around to secure the best rate and offer. Compare all the terms that various lenders offer you and match them with your financial goal.
Refinancing in a way is keeping your home as collateral to take a loan so be doubly sure to see if you can afford the monthly payouts peacefully.
Reference Source: MSN
