Home Refinancing May Never Look So Good Again: John F. Wasik
The latest numbers on U.S. gross domestic product show a dramatic improvement in the economy during the third quarter, but they do little to settle the question of how much the government’s unprecedented stimulus program helped or hurt the economy.
If you need to refinance your home mortgage, don’t wait.
It’s not time to play chicken. Lock in the best deal now. Mortgage rates have climbed over the last two weeks, according to mortgage buyer Freddie Mac of McLean, Virginia. At a 1960s- like national average of 5 percent, the 30-year rate isn’t far from its historic low of 4.78 percent, reached in April. As the economy heats up, it’s far more likely that rates will climb.
Full story is available on Bloomberg
