4 Common Objections to Mortgage Refinancing - and How to Overcome Them

By
Mortgage and Lending with ChangeMyRate.com® A Mortgage Corporation NMLS #1326269

Mortgage rates continue to flirt with record lows, a sustained dip that means the window for refinancing your home loan remains wide open.

Rates declined again this week, when the average rate on 30-year mortgages fell to 3.03 percent from 3.04 percent last week. Rates hover just above their all-time low of 2.93 percent, according to Bankrate’s weekly survey of large lenders.

And yet millions of American homeowners have declined to lock in the super-low rates made available by the coronavirus pandemic. A recent Bankrate survey found three-quarters of U.S. homeowners had not yet refinanced their mortgages.

When Bankrate asked why homeowners hadn’t refinanced, respondents pointed to a variety of factors. One — that the homeowner planned to move soon or to otherwise pay off the mortgage — was a valid reason not to incur the expense of refinancing.

Mortgage rates continue to flirt with record lows, a sustained dip that means the window for refinancing your home loan remains wide open.

To learn more about objections to mortgage refinancing and the home buying process, visit the SCOOP! Blog

Comments (1)

Laura Cerrano
Feng Shui Manhattan Long Island - Locust Valley, NY
Certified Feng Shui Expert, Speaker & Researcher

I like how you can really put everything into perspective in a very concise way about something like mortgages

Sep 04, 2021 10:57 PM
Jackie A. Graves

Hi Laura, thank you for your comment. Stay posted for future blogs and make it a great day.

Sep 12, 2021 08:25 PM