Rates Trending Upward, Refinancing Still An Option
by Tim Manni
According to Monday’s Market Trends Newsletter: “Conforming 30-year FRMs — which, by some measures, dipped below the 5% mark last week — rose to an average 5.34%, while 30-year FRM jumbos tracked just 11 basis points higher.”
Despite 30-year conforming rates easing upwards, and reports that mortgage applications are plunging, refinancing is still a viable option for many borrowers.
If you’re considering refinancing, be sure to read Luke Mullin’s article “Low Mortgage Rates: 7 Things You Need to Know to Refinance.”
