Recent news stories and commentary show there are a lot of analysts predicting that the Fed will increase interest rates, and soon. Yes, they’ve been wrong before, but what if they are right?! Refinancing ASAP can lock in today’s low rates.
Mortgage refinance rates have been noodling around in the three-to-four percent range for a few years now, but that could be changing soon — and there are still millions of homeowners who could be saving money every month who have not yet refinanced their home loans. You may be one of them!
The Refi Quiz
If you answer “yes” to any of these 5 questions, you’re probably cheating yourself out of refinance rewards. You owe it to yourself to spend 30 seconds (yep, it only takes 30 seconds and costs nothing) checking out mortgage options available to you before you make a huge money mistake.
1 Were you turned down for a refinance in the last couple of years?
2 Do you have an FHA home loan closed between 2012 and 2014?
3 Can your income support a 15-year mortgage payment?
4 Are you paying for mortgage insurance?
5 Has your credit score or home value improved in the last few years?