It's a Great Time to Refinance

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6.3.20

It's a Great Time to Refinance


Interest rates have been low for a number of years, but the Federal Reserve slashed its Fed Funds target rate to 0.00% - .25% in March in response to the economic impact expected from the coronavirus. As a result, mortgage interest rates are also historically low – the national average for a 30-year, fixed-rate mortgage was 3.24%, just 0.01 percentage points above the all-time low set in April. We’re experiencing a tremendous increase in first mortgage refinancing because with rates this low, there is the potential to save hundreds of dollars per month on your house payment.

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