Now could be a good time for some mortgage holders to refinance their loans. Unfortunately, that opportunity might soon slip away.
In fact, borrowers taking out new loans right now are still paying more than they would at this time last year. BUT if you can save even one percent on your mortgage rate it would be worth refinancing. Why? Rates are only going to keep going up.
How Much Can You Really Save?
New home buyers will definitely want to jump on a mortgage before the rates rise anymore, but what about those looking to refinance? How much can you actually save by refinancing right now?