Financial analysts forecast that rates could sink to record lows in the coming weeks. If you’re a borrower, don’t wait to lock your rate, this opportunity will not last long. So if you have been thinking about refinancing, it may be time to stop thinking and start refinancing.
They’ve already hit rock bottom this year. In the past month alone, 30-year fixed-rate mortgages have hovered around 3.7 percent, nearly a three-year low. Britain’s vote to leave the European Union is expected to drive rates even lower. This is only going to be a temporary effect, so the time to refinance or lock in your interest on home purchase is now.
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